How much does electricity cost in Panama?

Electricity in Panama has 3 rates, depending upon your use. If you use less than 300 kWh, your rate is subsidized. Which is how some people have monthly electricity bills of only $4. If you use between 300- 750 kWh, you pay at a higher rate. If you use more than 750kWh, you pay at the highest rate.

Why is Panama so attractive to investors?

Image: Avanzalia Among the Central American states, Panama has become very attractive to investors, not only because it boasts a stable government and uses the US dollar as its currency, but also due to the government now deploying a range of fiscal incentives to support PV, including an exemption on import taxes.

Does Panama import oil?

Panama imports all its oil products (8 Mt in 2021), as the production of oil products ceased in 2003 when the refinery was transformed into an import terminal. In 2022, the price of electricity increased by 14% for industry to US$c15.2/kWh and by 8% for households to US$c16.5/kWh. This follows two years of declining prices.

Are electricity prices higher in Mexico or Costa Rica?

Electricity prices are much higher than in Mexico (+80% for households) and in Costa Rica (around +25% for both industry and households). In 2021, energy consumption per capita was 1 toe, including 2 200 kWh of electricity. Total energy consumption rose by 12% to 4.4 Mtoe in 2021, after a 19% drop in 2020.