Energy sucks money

[NewsWhore]

During the first four months of the year the energy subsidy sucked US$105.8 million, which is US$15.8 million more than was assigned during the same period in 2006 and 2007. Listin Diario writes that this demonstrates the effect the "freezing" of the energy bill has had during the last two months, and during the last four in particular. As a result of this decision by the Executive Branch, the Energy Superintendence has maintained the rate that is applied by the energy distributors to consumers, so in effect the Superintendence has instead focused on calculating the amount of the monthly subsidy. Accordingly, the estimated subsidy for the entire year should equal US$423.2 million. Energy Superintendent Francisco Mendez said that the government is looking for ways to lower the energy subsidy.

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