2005News

President reviews energy situation

At a time when the price of the barrel of petroleum is at a new all time high, President Leonel Fernandez met last night with the Energy Sector Committee to evaluate the energy situation of the country. According to Radhames Segura, manager of the government’s electric corporation (CDEEE) and appointed spokesperson for the group, they agreed to take “special measures” to maintain service as stable as possible, with demand at 30% higher than usual due to the excessive heat that is affecting the country. Generating and distributing companies proposed to keep supply between 75% and 80% despite higher oil prices, which would imply an increase in the government’s subsidy to the energy sector from US$350 million to US$450 million during 2005. Segura said that the government has disbursed US$230 million in subsidy so far this year. During the two-hour meeting at CDEEE, the committee analyzed the installation of two used coal generators, a project that the government is very interested in and which is expected to generate 1,200 megawatts. Segura stated that a complete report regarding the installation of two 600-MW coal generators would be released in the forthcoming days. This project is being proposed as a way to reduce the high price consumers are paying for energy.