SANTO DOMINGO.- President Danilo Medina and electricity sector representatives today agreed to seek at least US$500.0 million in funds in foreign money market to pay part of the more than US$1.0 billion debt with the sector.
The announcement comes in the heels of the power companies’ recent warning that the debt poses a difficult after situation.
State-owned Electric Utility CDEEE) CEO Ruben Bichara, after meeting with Medina and members of the electricity sector, said a US$500.0 million bond will also be issued in the international market to fix the problem.
He admitted however that there’s no solution for Dominican Republic’s electrical system in the coming years and that its income is barely enough to pay the power companies.
From: United States
well, Atabey, still braying about the macroeconomic success of LF? a billion in debt, just for electric services. it is never good news when you have to float a bond issue for either current expenditure, or debt service. then again, you have a degree in business administration, so i bet you knew that.
Written by: juanb, 29 Aug 2012 2:46 PM
From: Dominican Republic
How easily the whole problem could be resolved if only the will to do so existed:
Make everyone pay for electricity or make sure they don't get it.
Written by: josean, 29 Aug 2012 2:50 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
The 12 years of the Neo-liberal-Marco-Narco-Economic Miracle of Lie-onel Fernandez are coming Home to Roost!
Boy that METRO idea really looks good now, especially for the rest of 99.5% of the population that doesn’t use it!
Written by: Spimx, 29 Aug 2012 3:04 PM
From: Canada
Is a master plan to boost economy you remember... Why waste money on what I really needed like "electricity" when we can waste it on a useless metro that will make us "look" in development?
Written by: josean, 29 Aug 2012 3:37 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
"Is a master plan to boost economy you remember... "
Spimx,
Thank you for reminding me I forget!
Written by: williom, 29 Aug 2012 3:43 PM
From: United States
Also don't forget:
((The true value of the Metro will be seen in the next decade and onward.))
From: United States, FREEPORT, Long Island.... ((You're blind to the fact that you're blind))
Nice way to mask your approval of the useless metro, that statement goes both ways.....you can be a useless dominican politician.
Written by: williom, 29 Aug 2012 4:14 PM
From: United States
Roberto-
I cannot match josean, but I am pretty damn close to him when it comes to the useless metro. That was a quote that he is VERY familiar with.
((
Written by: Atabey, 27 Aug 2012 8:35 PM
From: United States, NYC
The true value of the Metro will be seen in the next decade and onward. Remember, that the system is not even 2/6 finished. And there'll be a rail connection from SD to Santiago, too. And yes, Medina is doing right by fulfilling the 4% of PIB mandate.
))
From: Dominican Republic, calle A.Portes
Josean ,,have you ever thought that 95 % of the USA never use the tunnels under the Hudson or that 95% of England do not use the new bridge into Wales or that 95% of Australia do not use Sydney Harbour bridge ...but of course the 5% that do are mighty grateful
Written by: josean, 29 Aug 2012 4:37 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
The USA and Australia also have better EDUCATIONAL systems than we do so stop comparing Apples, Kangaroos and Platanos!
From: Cocos (Keeling) Islands, Fighting Joseans lunacy .Stop Guillermo the commie thief in 2016
Josie you ate too many plantanos.....that is why you are a low grade moron ...a mofongo eating moron
Written by: josean, 29 Aug 2012 4:56 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
Speaking of dark holes!
Written by: Spimx, 29 Aug 2012 5:34 PM
From: Canada
Hey josean I got your back, people please don't compare countries.
Ps. That 5% of USA or Asustralian could easy be the 75-80% of DR
From: United States
It will take a long time to pay off our electrical debt. Hope Danilo has a good plan. Start by putting all our corrupt officials in jail and confiscate all their possessions. This would pay a good part off.
Written by: derek, 29 Aug 2012 6:16 PM
From: Dominican Republic
10 months later, I cannot pay my electric bill, because Edenorte will not /cannot finish the paper work, so I have become a thief by default.... Idiot Savante they are
From: Dominican Republic
Ricardolito
"Josean ,,have you ever thought that 95 % of the USA never use the tunnels under the Hudson or that 95% of England do not use the new bridge into Wales or that 95% of Australia do not use Sydney Harbour bridge ...but of course the 5% that do are mighty grateful"
Well one out of three examples is not bad... Apart form the Wales bridge in ALL the other projects are payed for by the city they are in...NOT the whole country.... and the bridge in Wales has a very high toll and is not subsidized... But I have explained this before about who has pays for what and again makes your point .... pointless..
5%?? is that 5% of the whole country or 5% of just the parts of Santo Domingo the subway runs???
So make 5% of Santo Domingo happy and screw the rest of the country .. ?? mm good logic??
Written by: Spimx, 29 Aug 2012 7:18 PM
From: Canada
Exactly.... Really bad example
From: Dominican Republic
Oh...
In July 1986 the Secretaries of State for Transport and for Wales agreed to build a bridge across the Severn Estuary..
The contract to design, build, finance and operate the Second Severn Crossing was awarded to SRC in April 1990
So we change that to three out of three bad examples....
From: United States
stillhere, even the Chunnel was a private venture. i try to explain to people who bring the NYC subway system into the argument, that the NYC train system started as a private venture. it was nor paid for, nor subsidized, by people from Arizona, who had no need for it.
Written by: josean, 29 Aug 2012 8:13 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
Dr. Dread you would think that the largest most expensive public works projects since 1492 would have brought benefits to more than a few neighborhoods in a small part of the capital covering only 14 linear kilometers. When you put that in perspective relative to the size of the country and all the National priority needs, EDUCATION being the most paramount, the people who approved this should be sent to jail for life.
From: United States
the problem that most people fail to take account of is the fact that without all the other lines on stream, the whole exercise is beyond ridiculous. the question now becomes one of finding the money to complete the entire project. worse yet, when all the 6 lines are on stream, we will be confronted with 6 subsidies. there is no way that farebox revenus will be able to pay operating expenses. so, the plot thickens.
Written by: juanb, 29 Aug 2012 8:34 PM
From: Dominican Republic
Ricrdolito:
Thanks for your report from LaDeeDa land.
From: United States
Dominican rep. Have a lots of problems, we are not a develop country and electricity is one of dr many problems! Leonel still my president!
Written by: josean, 29 Aug 2012 9:10 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
Go into the bunker and don't forget to take the cyanide pill with you!
From: United States
Written by: jarabacoa, 29 Aug 2012 9:05 PM
From: United States
Dominican rep. Have a lots of problems, we are not a develop country and electricity is one of dr many problems! Leonel still my president!
sure. whatever.
Written by: DR_guy, 30 Aug 2012 7:57 AM
From: Dominican Republic
I heard Medina was looking at pre-paid electricity solution.
Google it...
I see Ireland and England are moving in this direction.
You can top off with a pre-paid card or perhaps Tpago could provide the billing mechanism.
Obviously not something that could happen overnight..
From: United States
simple solution would be to inspect each and every electric meter and compare the business usage to what they are paying which could also result in new jobs for a year. Where my house is there a dozen of illegal connections to the line and no meters which results in frequent blackouts until someone resets the breaker on the pole. Talk to some of the larger electric companies in the US for old meters and help stopping illegal electricity usage. Wasn't a powerful government official stealing power and only had to pay a fine with NO JAIL TIME ?
How easily the whole problem could be resolved if only the will to do so existed:
Make everyone pay for electricity or make sure they don't get it.
The 12 years of the Neo-liberal-Marco-Narco-Economic Miracle of Lie-onel Fernandez are coming Home to Roost!
Boy that METRO idea really looks good now, especially for the rest of 99.5% of the population that doesn’t use it!
"Is a master plan to boost economy you remember... "
Spimx,
Thank you for reminding me I forget!
((The true value of the Metro will be seen in the next decade and onward.))
I cannot match josean, but I am pretty damn close to him when it comes to the useless metro. That was a quote that he is VERY familiar with.
((
Written by: Atabey, 27 Aug 2012 8:35 PM
From: United States, NYC
The true value of the Metro will be seen in the next decade and onward. Remember, that the system is not even 2/6 finished. And there'll be a rail connection from SD to Santiago, too. And yes, Medina is doing right by fulfilling the 4% of PIB mandate.
))
The USA and Australia also have better EDUCATIONAL systems than we do so stop comparing Apples, Kangaroos and Platanos!
Speaking of dark holes!
Ps. That 5% of USA or Asustralian could easy be the 75-80% of DR
"Josean ,,have you ever thought that 95 % of the USA never use the tunnels under the Hudson or that 95% of England do not use the new bridge into Wales or that 95% of Australia do not use Sydney Harbour bridge ...but of course the 5% that do are mighty grateful"
Well one out of three examples is not bad... Apart form the Wales bridge in ALL the other projects are payed for by the city they are in...NOT the whole country.... and the bridge in Wales has a very high toll and is not subsidized... But I have explained this before about who has pays for what and again makes your point .... pointless..
5%?? is that 5% of the whole country or 5% of just the parts of Santo Domingo the subway runs???
So make 5% of Santo Domingo happy and screw the rest of the country .. ?? mm good logic??
In July 1986 the Secretaries of State for Transport and for Wales agreed to build a bridge across the Severn Estuary..
The contract to design, build, finance and operate the Second Severn Crossing was awarded to SRC in April 1990
So we change that to three out of three bad examples....
Dr. Dread you would think that the largest most expensive public works projects since 1492 would have brought benefits to more than a few neighborhoods in a small part of the capital covering only 14 linear kilometers. When you put that in perspective relative to the size of the country and all the National priority needs, EDUCATION being the most paramount, the people who approved this should be sent to jail for life.
Ricrdolito:
Thanks for your report from LaDeeDa land.
Go into the bunker and don't forget to take the cyanide pill with you!
From: United States
Dominican rep. Have a lots of problems, we are not a develop country and electricity is one of dr many problems! Leonel still my president!
sure. whatever.
Google it...
I see Ireland and England are moving in this direction.
You can top off with a pre-paid card or perhaps Tpago could provide the billing mechanism.
Obviously not something that could happen overnight..