Minister of Finance Jose Lois Malkum confirmed that the Union Fenosa power distributors (Edesur and Edenorte) want the government to sell its shares in the capitalized power companies.
Malkum said it would be unacceptable for the government to transfer its interests in return for the cancellation of the alleged debts. The government owns 49.9 percent of the companies.
Malkum told El Caribe that the two Spanish companies have no intention of buying off the shares or contributing anything to increase the capital of the companies. He explained that they instead want to receive the shares to cover supposed debts accumulated. Malkum, however, does not recognize the alleged debts in question.
Speaking on Telesistema, Channel 11, he said that because the government eliminated the subsidy for the cost of power, the onus is on the power distributors to collect their fees directly from consumers.
He continued to say that the only debts pending are those with several independent private producers, such as Smith Enron and Congentrix. Kevin Manning of the Itabo power company confirmed this statement.
Malkum says at present there are no generation problems and attributed the latest blackouts to the arrears the power distributors are owed by the generation companies.
