The price regulating agency has agreed to allow the  Instituto Costarricense de Electricidad to cut in half the rate for its advanced Internet service to its 18,000 subscribers.

The telecommunications giant sought a rate cut to compete with its subsidiary, Radiográfica Costarricense S.A. and various cable companies.

The high speed Internet, called Acelera, runs on telephone lines. Users will have the option of getting a price break or increasing the speed of the service under terms of the ruling by the Autoridad Reguladora de Servicios Públicos.