NewsWhore
05-30-2011, 02:30 PM
The main opposition PRD party is advising the government to reduce the excess number of employees on the Public Electricity Corporation (CDEEE) payroll and fuel consumption at the Public Electricity Corporation instead of increasing power bills nationwide as the government said would go into effect as of June. "We suggest they reduce spending by 50% now, and then it would not be necessary to increase the rate," said PRD economic advisor Arturo Martinez Moya.
Martinez Moya said that those who consume more than 700 kWh would experience raises of more than 8% in the proposed rate hike. He said in the past 18 months the power rate has gone up 1% per month, as reported by Listin Diario.
The presidents of the National Organization of Shopping Malls and the National Traders and Entrepreneurs Federation, Antonio Ramos and Ricardo Rosario, told Listin Diario that the increase was poorly timed. "It appears we have to be prepared for stronger economic measures. We hope to God that the talks with the International Monetary Fund (IMF) do not lead to more taxes, because that would be catastrophic for the family basket."
Ramos said the 8% increase would affect prices, as businesses would not be able to absorb the higher production cost. He said this follows the recent increase of 11% in December 2010.
On Friday the Superintendent of Electricity (SIE) announced that rates would go up to compensate for the RD$9.9 billion subsidy the government says it has to meet due to the oil price increases, as per resolution 140-2011 of the Superintendence. The Superintendence says that power rates have increased 18.75% since prices of fuel began rising. The Superintendence says the subsidy will be RD$6.29 billion, down from RD$9.9 billion in 2010.
CDEEE executive vice president Celso Marranzini said the increase was inevitable and would have come sooner or later to reflect the rising fuel prices.
More... (http://www.dr1.com/index.html#1)
Martinez Moya said that those who consume more than 700 kWh would experience raises of more than 8% in the proposed rate hike. He said in the past 18 months the power rate has gone up 1% per month, as reported by Listin Diario.
The presidents of the National Organization of Shopping Malls and the National Traders and Entrepreneurs Federation, Antonio Ramos and Ricardo Rosario, told Listin Diario that the increase was poorly timed. "It appears we have to be prepared for stronger economic measures. We hope to God that the talks with the International Monetary Fund (IMF) do not lead to more taxes, because that would be catastrophic for the family basket."
Ramos said the 8% increase would affect prices, as businesses would not be able to absorb the higher production cost. He said this follows the recent increase of 11% in December 2010.
On Friday the Superintendent of Electricity (SIE) announced that rates would go up to compensate for the RD$9.9 billion subsidy the government says it has to meet due to the oil price increases, as per resolution 140-2011 of the Superintendence. The Superintendence says that power rates have increased 18.75% since prices of fuel began rising. The Superintendence says the subsidy will be RD$6.29 billion, down from RD$9.9 billion in 2010.
CDEEE executive vice president Celso Marranzini said the increase was inevitable and would have come sooner or later to reflect the rising fuel prices.
More... (http://www.dr1.com/index.html#1)