The supervisory body known as the Public Utility Authority – Electricity is saying it may instruct the Electric Company to increase the prices of electricity by 5% for the course of a year, in order to fund development plans.

The Authority will field a proposal to raise electricity rates by 5% beginning next month and leave them at that level for a year, on condition that oil prices remain stable.

The PUA-E demands that the Electric Company submit a streamlining plan by November.