Empresas Públicas de Medellín’s board agreed to cut household electricity bills to help ease inflation pressures, CEO Jorge Andrés Carrillo said.
(Bloomberg) — Empresas Públicas de Medellín’s board agreed to cut household electricity bills to help ease inflation pressures, CEO Jorge Andrés Carrillo said.
EPM will lower power tariffs by 0.6% from June to September in the western province of Antioquia and in the town of El Carmen de Atrato in Chocó in the Pacific region, Carrillo told reporters. In the last quarter of the year, energy tariffs will return to their current level, he added.
The move will cost EPM as much as 400 billion pesos ($89 million), Medellín mayor and EPM chairman, Daniel Quintero said in the joint press conference. The company is in good financial shape, he said.
Read More: Medellín’s EPM to Discuss Freezing Energy Bills, CEO Says
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.