1998News

Government pacts with Smith Enron

The government reached an agreement with the Smith-Enron electricity generating consortium for a payment plan. The electricity utility had threatened to disconnect from the national electricity grid for arrears in government payments. The government agreed to pay US$1.6 million as of 10 August to reduce a debt of US$5.4 million owned to the company. The agreement was reached at a meeting with Smith-Enron executives, President Fernández, Temístocles Montás, Technical Secretary of the Presidency and a former Corporación Dominicana de Electricidad manager, and Radhamés Segura, present general manager of the CDE.