Big business says keep tax breaks to spur clean energy investment

Santo Domingo.- TheNational Business Council (Conep) oon Monday said it disagrees with and is concernabout the government’s decision to discontinue the tax breaks which encourageinvestment in clean and renewable energies, in effect since 2012.

The government made itsunfavorable position clear by discarding the previous consensus to restore taxincentives of Law 57-07, during the general assembly of the Pact for the Reformof the Electricity Sector,” the Conep said, noting that the measure would wastethe country´s potential to generate clean, renewable and sustainable energy.

“It´s important toremember that one of the main objectives of the electricity pact is preciselyto ensure reliable supply of electricity at competitive prices and inconditions of financial and environmental sustainability, to achieve this wemust aim at generating natural energy sources,” the country´s biggest businessgroup said.

The CONEP said the countryneeds to move towards environmentally friendly energy projects and conducive toreducing high electricity prices gradually moving us toward proposals foralternative energy generation. “It is remarkable that contrary to joining theglobal trend of awareness and cooperation against climate change and greenhouseeffects, we remain rooted in the same conventional sources of energy.”

“The CONEP invites thegovernment to reject this decision to restrict the country´s sustainabledevelopment and promote renewable resources potential as well as spur the electricitysector´s expansion.”