2013News

Four generators hold 86% of CDEEE debt

Four generating companies, EGE-Haina, AES Dominicana, San Felipe and Seaboard are the CDEEE’s largest creditors, according to a report by Jairon Severino of Listin Diario’s Economic Section. The journalist says that these four companies hold 86% of the debt owed to generators by the Public Electricity Corporation (CDEEE). According to a report by the Dominican Electricity Industry Association (ADIE) the outstanding debt that is past due by 61 days or more is US$601 million and over US$ 500 million is owed to these four companies. And over half of that, US$229 million, is owed to EGE-Haina, and the second-most is owed to AES Dominicana at US$152 million. As a result, the rolling blackouts across sections of the country are daily occurrences, as the nation tries to deal with the issue.