The former administrator of the CDE, Ramon Perez Martinez, said it was "immoral" for the Spanish company Union Fenosa to participate in the tender for the purchase of the Dominican Electricity Corporation. Perez Martinez explained that Union Fenosa had a seven-year contract financed by the Interamerican Development Bank in which they consulted with management to suggest ways to make the state electricity corporation more efficient. He said the executives of the Spanish firm followed the financial and technical data of the CDE for seven years and this information was later used to prepare the tender to find 50-50 share holders. "In a certain way, they even held the mechanisms to put a price on the CDE," said Perez Martinez. He said the IDB was responsible for not warning the Commission for the Reform of Private Enterprise that Union Fenosa should not participate in the tender for ethical and professional reasons. Union Fenosa was allotted two-thirds of the distribution of power in the DR. The Dominican consumer experience with Union Fenosa’s distributors couldn’t be worse. The company has increased the CDE’s practice of overcharging consumers to compensate for the company’s lack of efficiency.
