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US$700M debt worries Dominican Republic’s power companies

SANTO DOMINGO.- The Dominican Republic’s power companies grouped in ADIE on Monday stated their concern for the delays in the payment of more than US$700 million, now four months in arrears.

ADIE said the Government should make greater efforts to pay the accumulated debt, which in their view is the only guarantee to ensure the electricity system’s supply and sustainability in the short term.

It said the most of the government’s accumulated debt is from the purchase of fuel to continue to operate the plants, and other items to pay creditors and renew the expired lines of credit.

The power companies stressed that the payments in default have led to operational problems and of fuel inventory, and with their resupply by the Government.

It adds that replenishing the fuel cannot be done at once, because after placing the purchase order, the tanker ships take several weeks to arrive.

Source: Dominican Today

Category: DR News |

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Last updated March 22, 2017 at 1:17 AM
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