NewsWhore
07-27-2009, 05:40 PM
The State-run Electricity Companies (CDEEE) indicates that in the last four years it has received US$2.7 billion, which has been divided up among the energy distributors and their corporate units.
El Caribe reports that a substantial part of those funds was used to cover expenses related to the application of "official social policies" and to compensate losses related to contracts signed with independent energy producers.
Of the total money given to the CDEEE, US$806.7 million was given to EdeNorte, US$774.4 million to EdeEste and US$649.4 million to EdeSur.
Also, the Corporate Unit of the CDEE has received US$500.1 million and the Stabilization of Price Fund (FET) has received US$524.99 million, while the Blackout Reduction Program (PRA) received a total of US$419.41 million. The PRA was closed after investigative journalist Nuria Piera denounced widespread corruption.
The CDEEE admits that 70% overpricing and losses to the independent energy producers has resulted in a loss of more than 70% of the money handed to the energy sector.
More... (http://www.dr1.com/index.html#3)
El Caribe reports that a substantial part of those funds was used to cover expenses related to the application of "official social policies" and to compensate losses related to contracts signed with independent energy producers.
Of the total money given to the CDEEE, US$806.7 million was given to EdeNorte, US$774.4 million to EdeEste and US$649.4 million to EdeSur.
Also, the Corporate Unit of the CDEE has received US$500.1 million and the Stabilization of Price Fund (FET) has received US$524.99 million, while the Blackout Reduction Program (PRA) received a total of US$419.41 million. The PRA was closed after investigative journalist Nuria Piera denounced widespread corruption.
The CDEEE admits that 70% overpricing and losses to the independent energy producers has resulted in a loss of more than 70% of the money handed to the energy sector.
More... (http://www.dr1.com/index.html#3)