RD$1.8B subsidy in May, RD$7.4B in 2012 keeps light bill unchanged

Santo Domingo.- The government subsidy for the electricity bill reached RD$7.4 billion in the first five months, with RD$1.8 billion allocated to the electrical sector just in May to keep the cost unchanged.

Electricity superintendent Juan Bautista Gomez said SIE Resolution 361/2012 will keep the May bill unchanged, even when the index is based on the price of Fuel Oil number 6, which rose 2.3% and the dollar’s monthly average exchange rate, which inched from RD$39.06 a RD$39.08. He said cost of coal remained at US$110.12 per MMBTU.

The Resolution adds that the variations led May’s rate to climb 1.51% higher than April, but the tariff in effect continues being indexed at 44.5% lower, with the electric bill subsidy of more than RD$1.0 billion.