NewsWhore
06-21-2012, 03:10 PM
The vice-president of the State Electricity Companies (CDEEE), Celso Marranzini, said yesterday, Wednesday 20 June, that the US$500 million from the bonds submitted by the Executive Branch to the Congress are not for the CDEEE but for the consumers. He said that of the US$60 million that they currently receive each month in subsidies, US$57 million goes to direct subsidies of the electricity rates due to the effects of the price of fuel oil and diesel.
He recalled that in 2008 for each dollar that the government gave to the electricity subsidy, 80 cents went to subsidize the inefficiency of the distributors and 20 cents went to pay the tariff, but today, 75 cents go to the consumer and 25 cents go to the tariff. He said that the US$500 million that they are giving would go exclusively to the consumer in order to prevent an increase in the electricity rates. He said that 80% of Dominicans pay 11.5 cents per kilowatt-hour and that the consumers who pay more do so because they are using more.
Economist Porfirio Garcia Fernandez said he believed that the Supplementary Budget is a way of mortgaging the State's income and putting to one side the solution of the people's needs in order to subsidize the electricity problem. A letter sent to the Senate by President Leonel Fernandez explained that the modification of the expenditures will be supported, among other options, in a legislative proposal for the Law of Bonds for US$500 million in order to send them to the electric companies that belong to the state and they will use it to pay for the cost of producing electric energy.
Marranzini's days at the CDEEE could be numbered. Close aide and member of the Danilo Medina transition team, PLD San Cristobal senator Tommy Galan spoke up against Marranzini for not having sufficiently reduced losses at the CDEEE. He criticized the high level of subsidies.
http://www.elcaribe.com.do/2012/06/21/galan-afirma-que-cdeee-muestra-ineficiencia
More... (http://www.dr1.com/index.html#6)
He recalled that in 2008 for each dollar that the government gave to the electricity subsidy, 80 cents went to subsidize the inefficiency of the distributors and 20 cents went to pay the tariff, but today, 75 cents go to the consumer and 25 cents go to the tariff. He said that the US$500 million that they are giving would go exclusively to the consumer in order to prevent an increase in the electricity rates. He said that 80% of Dominicans pay 11.5 cents per kilowatt-hour and that the consumers who pay more do so because they are using more.
Economist Porfirio Garcia Fernandez said he believed that the Supplementary Budget is a way of mortgaging the State's income and putting to one side the solution of the people's needs in order to subsidize the electricity problem. A letter sent to the Senate by President Leonel Fernandez explained that the modification of the expenditures will be supported, among other options, in a legislative proposal for the Law of Bonds for US$500 million in order to send them to the electric companies that belong to the state and they will use it to pay for the cost of producing electric energy.
Marranzini's days at the CDEEE could be numbered. Close aide and member of the Danilo Medina transition team, PLD San Cristobal senator Tommy Galan spoke up against Marranzini for not having sufficiently reduced losses at the CDEEE. He criticized the high level of subsidies.
http://www.elcaribe.com.do/2012/06/21/galan-afirma-que-cdeee-muestra-ineficiencia
More... (http://www.dr1.com/index.html#6)