Electricity subsidy changes will not hit 80% of users — Varela

CHANGES to Panama’s electricity subsidy program will not affect 80 percent of consumers said President, Juan Carlos Varela in Chiriqui on Sunday, November 30.

The changes to the Modification Rate Stabilization Fund (FET), will reduced subsidies for those consumers who have a high purchasing power, he said
“The concept of subsidizing increasing usage is not right, we will reduce the subsidy for those who consume more, because there is no sense for the State to subsidize customers with a high purchasing power,” he said.
He said that the announcement was made official in late December.
The Rate Stabilization Fund, was established in 2004 and until 2013, the State has provided more than a billion dollars to subsidize consumers..