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Santo Domingo.- The CEO of the State-owned Power Companies (CDEEE) yesterday announced steps to pay US$287 million to the generators on March 31, thus reaching the goal agreed in the stand-by agreement with the International Monetary Fund (IMF).

Celso Marranzini also affirmed that the electrical service has improved since Saturday, when the power plants met 84% of the demand.

As to paying the debt with the generators as agreed with the IMF, the official said the US$287 million would for pay for the invoices February and March pending. "Our invoice is approximately US$124 million per month."

He said the entity must remain up to date in the payments otherwise it fails to meet the IMF’s requirements and then the country doesn’t receive the funds agreed with international organisms.

Marranzini said the CDEEE collected RD$2.4 billion in January last year and 3.7 billion in January this year.

He added that the output will again return to normal within three weeks with the reentry of some power plants and the resumption to full capacity of others.

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COMMENTS
8 comment(s)
Written by: ateo2010 This user is banned, 11 Mar 2010 11:34 AM
From: Dominican Republic, Owning Noobs
GReat!, but Celso there is more to improve like the cable thefts, savage careless people stealing electricity and not paying for it!
But still great news.
Written by: JimHarrington This user is banned, 11 Mar 2010 11:59 AM
From: United States
Another agreement??? They will never get paid!!!
Leonel and his cronies can't afford to pay the electrical generators.
40% of all revenues to the Government go to pay the interest on the national debt, and this does not include the amount owed to Chavez for the oil.

So lets get serious and just accept that lack of electricity is a Domincan way of life that will not change.
Just like the corruption and drug infiltration it also will not change.
Written by: juanb, 11 Mar 2010 12:34 PM
From: Dominican Republic
This is a businessman speaking.

Not a politician.
Written by: gmiller261, 11 Mar 2010 1:01 PM
From: United States

Texas... Thanks for keeping track. I wish DT did with these fools statements.

What they do not mention is this is just status quo.

1) I say there is still $500 MM owed
2) NO improvements have been done

Therefore this will NEVER be solved.
Written by: jonbonz, 11 Mar 2010 1:07 PM
From: Dominican Republic, santo domingo
Dont know how long this will last but here in Villa Faro we have had two black outs a day lasting about 3 hours each. Basically a vast improvement. If they can keep at this level I can put my planta in storage.
Written by: BASTA, 11 Mar 2010 6:23 PM
From: Dominican Republic, =Ghetto/Legalize Drugs
This is a businessman speaking.= How Naïve = So you trust a business person – Please they can count and what about the much bloated payroll and since he was appointed by Fernandez you should know that he is bad news.
Written by: anthonyC, 11 Mar 2010 8:37 PM
From: United States
Written by: juanb, 11 Mar 2010 12:34 PM

"This is a businessman speaking.
Not a politician."

Correction....He WAS a Businessman.
If he is employed by the Government he has ceased to be a business man and is now a Looter.
Written by: hellborn25, 11 Mar 2010 8:59 PM
From: United States, words of wisdom from the nutcracker
at least celso is taking the nesessary steps in reducing the debt , he is doing what he can to improve the situation. he already fire like a 100 corrupted employees and there crooked family members . he is a new hope for dr celso for president for 2012
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