Dominican power companies ‘eagerly await’ US$800.0 payment

Santo Domingo.- The president of the Dominican Republic’s power companies association (ADIE) on Friday said its members eagerly await the proposal to pay the US$800.0 million the government owes them.

"We await the proposal the Government prepared to submit to ADIE and we believe it will serve to reach an agreement to pay the debt with the power companies currently around US$780 million to US$800 million and a commitment would be coordinated through the Finance Ministry," Cochón said at a mass to mark the Electricity Superintendence’s 14th anniversary.

Cochon’s statement comes just four days after National Business Council (CONEP) president Rafael Blanco asked State-owned electric utility (CDEEE) CEO Ruben Jimenez Bichara to honor the government’s debt with the power companies.