Santo Domingo. - The power company Itabo announced that starting July 1 their energy production costs would be 40% lower, going from 15.8 U.S cents per kilowatt hour to 10 U.S. cents per kWh.

In a statement AES Dominicana, which owns 50% of Itabo’s shares, said this will save the electricity distributors who buy its energy around 100 million dollars annually, contributing to reduce the sector’s financial deficit.

AES Dominicana president Marco De la Rosa said Itabo is the best example that good results are possible when the public and private sectors work together, citing the strategic alliance with the State, through the Reformed Companies Patrimonial Fund (Fonper).

He said Itabo has generated US$90 million in government revenue in the last three years.

The executive of the country’s larges power company noted Itabo’s contribution to the country in several aspects, including sustained output, with units on line 85% of the time on average; competitive prices, and tax payments of RD$825 million in the last few years. “This shows our high level of commitment with the country and with contributing sustainable solutions for the Dominican power sector.”