NewsWhore
07-10-2012, 01:40 PM
24/7 power for neighborhoods has almost been the norm during the Public Electricity Corporation (CDEEE) administration under Celso Marranzini, but news reports are now suggesting that blackouts may on their way back due to financial constraints. So-called 24-hour sectors have already been suffering blackouts, which had been a thing of the past for months.
A report from the CDEEE published in Hoy says that the deficit for the first four months of the year is US$417.3 million. Power distributors registered a deficit of US$307 million, while the CDEEE is showing a deficit of US$110.3 million for the US$417.30 million.
"The year end deficit will be US$1.25 billion, with US$921 million for the distributors and US$331 million for the CDEEE, if we project the present deficit accumulated in the first quarter of 2012," says the report.
Losses for the first four months - the difference between energy billed and that purchased from the generators - averaged 37% for EdeSur, EdeNorte and EdeEste power distributors.
Hoy reports there is the concern that the requested US$500 million in sovereign bonds placement to cover the electricity sector's financial gap will not be enough. The CDEEE reports this is because of the inefficiency, management issues and excess employment at the power distribution companies and the CDEEE itself.
The report specifies that the government will need to increase the subsidy otherwise the frequency and intensity of blackouts will increase.
President-elect Danilo Medina recently visited Colombia and Brazil to hold talks to discuss imports of natural gas and coal used in electricity generation, construction of new generators and other electricity issues.
http://www.hoy.com.do/el-pais/2012/7/7/435999/Continua-imparable-deficit-de-liquidez-registra-CDEEE
More... (http://www.dr1.com/index.html#3)
A report from the CDEEE published in Hoy says that the deficit for the first four months of the year is US$417.3 million. Power distributors registered a deficit of US$307 million, while the CDEEE is showing a deficit of US$110.3 million for the US$417.30 million.
"The year end deficit will be US$1.25 billion, with US$921 million for the distributors and US$331 million for the CDEEE, if we project the present deficit accumulated in the first quarter of 2012," says the report.
Losses for the first four months - the difference between energy billed and that purchased from the generators - averaged 37% for EdeSur, EdeNorte and EdeEste power distributors.
Hoy reports there is the concern that the requested US$500 million in sovereign bonds placement to cover the electricity sector's financial gap will not be enough. The CDEEE reports this is because of the inefficiency, management issues and excess employment at the power distribution companies and the CDEEE itself.
The report specifies that the government will need to increase the subsidy otherwise the frequency and intensity of blackouts will increase.
President-elect Danilo Medina recently visited Colombia and Brazil to hold talks to discuss imports of natural gas and coal used in electricity generation, construction of new generators and other electricity issues.
http://www.hoy.com.do/el-pais/2012/7/7/435999/Continua-imparable-deficit-de-liquidez-registra-CDEEE
More... (http://www.dr1.com/index.html#3)