The State-run Electricity Companies (CDEEE) indicates that in the last four years it has received US$2.7 billion, which has been divided up among the energy distributors and their corporate units. <\/p>\n
El Caribe reports that a substantial part of those funds was used to cover expenses related to the application of “official social policies” and to compensate losses related to contracts signed with independent energy producers. <\/p>\n
Of the total money given to the CDEEE, US$806.7 million was given to EdeNorte, US$774.4 million to EdeEste and US$649.4 million to EdeSur. <\/p>\n
Also, the Corporate Unit of the CDEE has received US$500.1 million and the Stabilization of Price Fund (FET) has received US$524.99 million, while the Blackout Reduction Program (PRA) received a total of US$419.41 million. The PRA was closed after investigative journalist Nuria Piera denounced widespread corruption. <\/p>\n
The CDEEE admits that 70% overpricing and losses to the independent energy producers has resulted in a loss of more than 70% of the money handed to the energy sector. <\/p>\n","protected":false},"excerpt":{"rendered":"
The State-run Electricity Companies (CDEEE) indicates that in the last four years it has received US$2.7 billion, which has been divided up among the energy distributors and their corporate units. El Caribe reports that a substantial part of those funds was used to cover expenses related to the application of “official social policies” and to … <\/p>\n