New electricity prices have seen a rise of between 500 and 700 percent. Photo via Infobae

The new and improved electricity costs are now official and were published in the Official Bulletin today. Hikes in electricity prices range between 500 and 900 percent but, as per usual, there is little by way of concrete numbers as the new prices have yet to be compared to the old ones.

So, what’s new? First off, the new costs imply a rise in prices from between 22 and 378 percent for those who pay a fixed, monthly rate while those who pay a variable rate based on monthly consumption could see an increase between 143 and 900 percent.

If you want to grab an old electricity bill and work out whether to freak out 5 or 9 times more than usual over your electricity, check out this article by Infobae with the tables corresponding to your electricity consumption. Remember that you can now pay them once a month.

In addition, there are different categories of consumption, so the increase will have different effects across the board. For example, there are people whose electricity is subsidized by the government: since the government is trying to get rid of said subsidies and the prices for electricity generation have gone up, their bill will be 500 percent more expensive. This is the case of 70 percent of Edenor users, according to La Nación.

However, if your household had already lost the government subsidy (and felt the kick of a higher utility bill last year), the rise in prices will be felt a little less in terms of percentages (around 55 percent) although you will be paying more. In addition, those who do not consume much energy will also be less affected.

In all cases, there will be discounts for those who save between 10 and 20 percent of their energy use in comparison to last year. If you didn’t before, make sure to switch all the lights off before leaving your house. In addition, the social tariff will come into effect, check out this article by The Bubble to see if you are eligible.

Last week, the government issued Resolution 7/2016, ordering the National Regulator of Electricity (ENRE) to “adjust [its] tariffs” regarding the two main distributors of electricity of Buenos Aires (City and Province), Edenor and Edesur.

Energy Minister Juan José Aranguren defended this exorbitant rise in prices as “the consequence of 10 years of divestiture that we are now paying for with a limited [power] generation capacity and a service quality that ends up hurting people’s pockets.” According to the minister, this is because the power cuts and shortages that are caused by the lack of infrastructure and investment are more costly in the long run. But nobody’s pockets are particularly pleased today, either.