Economist Jaime Aristy Escuder told Hoy newspaper that the savings announced by President Mejia yesterday regarding the electricity companies are RD$100 million less per month than what was initially negotiated. He said it is worrisome that the President did not release all the details of the negotiations. He said government negotiators had obtained savings that could have resulted in electricity savings to consumers of 24%. That was the deal originally announced by Superintendent of Electricity Jose Ovalles. Aristy questioned why the President only announced the elimination of the subsidy. “Unfortunately, during the negotiations the government chose not to reduce the electricity tariff, obviously to benefit the electricity distributor companies,” denounced Aristy. He said the government’s decision will mean RD$1,412.8 million more in profits to the distributors if the price is set at US$0.12 per kilowatt hour or RD$3,795.3 million if it is set at US$0.1412 cents per kilowatt hour. Union Fenosa of Spain and AES of the United States manage power distribution in the Dominican Republic.
