Saturday, December 2, 2023

If you paid for transport through your electricity bill, the bill would be more than 170% more expensive

Recently, President Gustavo Petro proposed paying an additional amount on top of the energy tariff to make public transport free.

Although several personalities had already commented on the idea, the Anif think tank has now spoken out, whose calculations indicate possible effects on the electricity tariff if the above-mentioned fee is charged. It is important to clarify that, although the accounts were drawn up by the experts, the figures may vary depending on the final collection method used.

The truth is that the first conclusions show that the electricity bill could increase by more than 170% and Anif proposes two scenarios: one in which all users pay the same amount and another in which they vary depending on their socioeconomic class pay a different tariff.

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For example, in the first scenario, the bill for users in tier two increases from \$82,000 to \$146,000 if the equivalent of the system’s revenue is financed, and from \$82,000 to \$219,000 if the entire operating costs are financed become. This represents an increase of more than 160%. However, with the differential interest rate, the maximum amount is \$178,000, a difference of 115.8%.

In the case of layer three, the rate could increase from \$104,000 to \$168,000 to finance income and \$241,000 in operating expenses, an increase of up to 131.7%. In the second scenario, the maximum variation would be 154.7% as the price could reach \$267,000.

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At shift four, the bill in the second scenario could rise from \$110,700 to a maximum of \$302,000, an increase of 172.8%. For layer five, the bill can rise from \$121,000 to a maximum of \$350,000, an increase of 189.2%. In the case of the sixth layer, however, the payout could increase from \$116,800 to a maximum of \$346,000, an increase of 196.2%.

Camila Ciurlo, head of research at Anif, highlighted that “the charge on the electricity bill in the second scenario is more progressive in tariffs, but the lower classes would still charge an additional charge, which in our opinion is absolutely unfeasible.”

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The analyst added that linking this tariff would cause major distortions in the energy market, in addition to harming purchasing power, and “could have a detrimental impact on people who receive aid to finance their transport today.”

In this order of ideas, the think tank suggests thinking about additional sources to invest in improving public transport and targeting subsidies more efficiently.

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