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CDEEE pays $127 million to electricity generators
posted on: Jun 7 2010 9:9 by Royston. Viewed 410 times.
The Dominican Corporation of State Electrical Companies (CDEEE) paid the energy generating companies US$127 million, reported Celso Marranzini the executive vice president of CDEEE.
This payment to the generators corresponds to the 60 day debt, less US$20 million, which would be paid off during the week begins on Monday, June 7, said Marranzini.
CDEEE Vice president said that to fulfill this commitment, the organization had received US$55 million in payments from the electricity distribution companies, EDEESTE, EDENORTE and EDESUR. In addition the government had paid a US$32 million subsidy to the electricity sector, while the remaining US$40 million was taken as loans in the banking system.
Marranzini said that the historical debt frozen since 2004 is still pending at US$145 million.
Moreover, Manrrazini said that all the requirements of the International Monetary Fund (IMF) regarding the Stand-by agreement signed in November 2009 have been fulfilled to the letter.
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