For the next three months, 1.4 million electric service customers in Puerto Rico will pay about $42 more per month because of a rate increase of .05 cents approved by the Puerto Rico Energy Bureau (NEPR). The article describes it as a historic 19.7% increase for consumers, and notes that service remains unstable, with constant interruptions and outages that seem to have no end.
Manuel Reyes Alfonso, vice president of the Chamber of Marketing, Industry and Food Distribution (MIDA), said the higher rate sets off a chain effect that will eventually raise food transportation costs and shelf prices. Asked by Metro Puerto Rico whether food costs would rise, he answered, "There is no alternative." The issue is especially relevant because Puerto Rico imports over 80% of the food it consumes, and high maritime shipping costs and rising fuel prices already push up final prices.
Reyes Alfonso said all business costs end up being paid by the consumer, who is also paying a higher residential bill, calling it a considerable impact for society as a whole. He added that the Consumer Radiography, the island's most important annual market study on food purchasing habits, showed consumers have begun limiting spending. He said people cannot stop eating and can adapt consumption patterns, but continued pressure could lead them to cut discretionary spending elsewhere, ultimately affecting the economy.