Santo Domingo.- US$1.0 billion is needed to rebuild the deteriorated power grids, Dominican Republic’s State-owned Electric Utility (CDEEE) CEO Rubén Jiménez Bichara affirmed Monday.
He said despite the CDEEE’s spending millions in projects to repair grids, much of the funds will be allocated to the subsidy, which he affirms exceeds Haiti’s entire energy budget.
He acknowledged the many overdue investments in the distribution companies (Edes), but noted a slight improvement in income, customer acquisition and meters. "There are improvements that have been achieved thanks to the support of the Inter-American Development Bank, the World Bank and other international entities, but lots of money is still needed."
Jiménez, interviewed on Despertador Color Vision, said 10 years ago in 2004 the grid required US$500 million and "to this day with more deterioration, without investment and with that delay to revamp the entire country requires from 800 to one billion dollars for the grids across the country."