Electricity rate increase?

[NewsWhore]

The Dominican Corporation of State Electricity Enterprises (CDEEE) is working with a huge, billion dollar deficit, and according to the press release handed out by the executive vice-president, Radhames Segura, there are only four alternatives available: One is to renegotiate the current terms of the Madrid Accord; the second is to transfer some payments into the 2009 budget; a third is to access funds from the 2008 complementary budget and the fourth is to increase the electricity rates. According to the Nuevo Diario, Segura said that the projected deficit will be US$1.32 billion, and only 49.3% of this sum is covered in the budget. He said that the main problem is the cost of fuel that has increased by 20%. Segura did say that an increase in the electricity rates would be a last alternative to solving the deficit.

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