The Dominican government will pay power company Union Fenosa US$300 million this week to complete the repurchase of the electricity distributors EdeNorte and EdeSur. The announcement was made by Hector Guilliani Cury, a Ministry of Finance official. The repurchase of the distributors will provide savings of US$103 million in PNV (Present Net Value) for the government, as it substitutes an “expensive” debt for a less expensive one. The difference, according to Guilliani, is US$32 million per year for ten years. Last week, the government was able to sell US$300 million in sovereign bonds to fund the repurchase.