In a press release carried by El Caribe and the Bloomberg
\nNews, Uni?n Fenosa, Spain?s third largest electrical distributor, announced that
\nit would put up US$187 million in support of Ede-Norte, the power distributor
\nfor the DR?s North Coast. Bloomberg News reports that UF says Ede-Norte has been
\nseriously affected by the devaluation of the peso. A recent audit showed that
\nEde-Norte carries debts for overvalued purchases and loans with Uni?n Fenosa?s
\naffiliate companies.
\nThe head of the new CDEEE, C?sar S?nchez, said that Ede-Sur, another Union
\nFenosa distributor, has local debts that exceed US$40 million. According to the
\nnote in the economic section of El Caribe, the ?57% drop of the Dominican peso?
\nhas seriously affected the electric distributors. The IADB is investigating Ede-Norte
\nfor non-payment of bills owed to the power producers, and into Ede-Sur for the
\nsubstandard service offered to its clients. Uni?n Fenosa says it has invested
\nUS$620 million in the Dominican Republic and denies any debts owed to
\ngenerators.<\/p>\n","protected":false},"excerpt":{"rendered":"
In a press release carried by El Caribe and the Bloomberg News, Uni?n Fenosa, Spain?s third largest electrical distributor, announced that it would put up US$187 million in support of Ede-Norte, the power distributor for the DR?s North Coast. Bloomberg News reports that UF says Ede-Norte has been seriously affected by the devaluation of the … <\/p>\n