Economy January 15, 2015 | 12:46 pm

Utility’s call for tenders to replace energy contracts coming ‘soon’

Santo Domingo.- Dominican Republic’s of State-owned electric utility (CDEEE) will call for tenders in the coming weeks, to replace the contracts in the Madrid agreement which expire before year end 2015.

CDEEE CEO Ruben Jimenez Bichara also announced that the utility is considering conducting another call for tenders long term, but to attract new projects.

The official said the idea of the call, which he affirms will be soon, is to contract and buy energy in the short term (two to three years), with better terms and benefits for the country.

Interviewed by the Corripio Communications Group, the official said the Madrid accord will be renegotiated because the CDEEE needs the installed energy based on the agreement and the fact that it has no other choice to replace it.

Jimenez noted however that there’s no longer a need for long-term contracts, since those companies recover their initial investment and profits. "That’s why we plan to conduct a short-term contract while the projects we have are concluded."

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