Low hydro generation costs INDE US$110mn in 2004

Guatemala's state power company INDE lost 850mn quetzales (US$110mn) in 2004 due to lower than expected hydro generation, newspaper La Prensa Libre reported. INDE had to buy 1,643GWh of thermoelectric generation in 2004 because the 1,856GWh of hydro generation was 7.6% less than what the mines and energy ministry predicted, the paper reported. On a separate issue, the national electricity commission (CNEE) says it will not increase electricity rates in this year's first quarter, the paper reported. Rates will remain the same due to the stability of the quetzal and increased electricity sales, CNEE's president José Toledo was quoted as saying.