Doubled for 99.96%, untouched for 23

The 2026 tariff revision sits on top of a structural asymmetry the country has lived with for two decades: 23 High Voltage industrial customers consume roughly 88% of domestic electricity at a tariff below the cheapest legacy export PPA, while the 99.96% of Low Voltage customers — households, small businesses, hotels, restaurants, schools — face a tariff proposed to more than double to recover system costs.

The revision is internally consistent — the cost-recovery arithmetic supports it. The political-economy arithmetic is what makes it visible: in a country whose national identity rests partly on equitable access to its hydropower endowment, a 115% household tariff jump alongside a smaller percentage move for industrial customers reads, fairly or not, as the inverse of the redistribution the country has historically prided itself on.

The next tariff cycle (2029) will be where this asymmetry either narrows or hardens.