NewsWhore
05-24-2006, 03:10 PM
The stability of the current electricity rates will depend upon the behavior of the price of oil beginning in June. According to the Superintendent of Electricity Francisco Mendez, the cost of oil on the world markets is the key factor affecting the cost of energy in the DR. He explained that in the first five months of the year, the government has transferred US$206 million of the projected US$425 million needed to cover the deficit in the energy sector. He said that the US$219 remaining in the budget will have to suffice, because of IMF impositions. Mendez told reporters from El Caribe that the budget had been written up based on oil at US$38 dollars a barrel. The current oil price averages US$48 dollars a barrel.
Regardless of the increasing price of imported fuel, the comparatively high cost of power in the DR is already regarded as one of the major obstacles to Dominican business competitiveness.
Link To Original Article (http://www.dr1.com/index.html#8)
Regardless of the increasing price of imported fuel, the comparatively high cost of power in the DR is already regarded as one of the major obstacles to Dominican business competitiveness.
Link To Original Article (http://www.dr1.com/index.html#8)