NewsWhore
07-26-2011, 02:20 PM
The executive vice president of the Public Electricity Corporation (CDEEE) Celso Marranzini says that the Madrid Accord negotiated during the Mejia administration cannot be modified unilaterally. The topic came up after President Leonel Fernandez, in a speech on Sunday, attributed the stagnation of the industry to the accord.
Marranzini said that unilateral adjustments of the agreement would put the judicial security of the country in question and have costly legal consequences. He said that the accord could only be modified if both parties are in agreement.
Marranzini said that once the agreement ends in 2016, changes could be made without international arbitration. He said that he thought that the best way to get around the Madrid Accords was to contract new energy suppliers. He noted that, "the part of these contracts that weighs most heavily is that with higher fuel costs the indexation factor on them is very negative for the sector. Marranzini was being interviewed by Hoy newspaper from the Spanish capital, Madrid.
More... (http://www.dr1.com/index.html#3)
Marranzini said that unilateral adjustments of the agreement would put the judicial security of the country in question and have costly legal consequences. He said that the accord could only be modified if both parties are in agreement.
Marranzini said that once the agreement ends in 2016, changes could be made without international arbitration. He said that he thought that the best way to get around the Madrid Accords was to contract new energy suppliers. He noted that, "the part of these contracts that weighs most heavily is that with higher fuel costs the indexation factor on them is very negative for the sector. Marranzini was being interviewed by Hoy newspaper from the Spanish capital, Madrid.
More... (http://www.dr1.com/index.html#3)