Energy sector subsidies

[NewsWhore]

The government paid out US$154.7 million in subsidies to the energy sector in the first four months of the year. The subsidies are part of the US$400 million that the government has budgeted for the energy sector. State Run Electric Companies (CDEEE) points out that of the US$154.7 million US$104.6 million were used to cover the energy sectors deficit, US$32.3 million were used to subsidies the Program to Reduce Blackouts (PRA) in poorer neighborhoods, and US$17.7 million for investments of the energy distributors EdeEste, EdeSur, and EdeNorte. During the first four months of the year EdeEste and EdeNorte received 21% of the funds while EdeSur received 20% and the CDEEE received 18% of the funds.

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