Thursday, November 24, 2005

Energy: Cubans face 300% increase in electricity rates

Cuba has increased electricity rates by as much as 333 per cent.

President Fidel Castro, signed a decree increasing the cost of electricity for small consumers from 20 to 30 cents of a Cuban peso ($0.01) per kilowatt-hour (kwh). Those who consume more than 300kwh a month will see their rate rise from 30 cents to 1.30 pesos ($0.06) next month.