Punta Catalina’s clarification: insights into financial and operational performance

Baní, DR.- In response to recent revelations regarding the billing and performance of the Punta Catalina Electric Generation Company (EGEPC) from January to October 2023, the company has issued a statement to provide the following clarifications:

1. Billing and Operation Costs: While it’s true that billing decreased during the specified period, this is primarily attributed to the significant reduction in coal prices. This reduction in coal costs, amounting to $125 million less revenue compared to the previous year, is indicative of efficient management and cost reduction. Importantly, Punta Catalina increased power generation by 4% in 2023 compared to 2022, underscoring its commitment to efficiency and productivity.
2. Contributions to the National Electrical System: Punta Catalina not only remained the primary source of energy for the National Interconnected Electrical System (SENI), but it also enhanced cost efficiency through favorable coal tender conditions. This resulted in our plants securing the top two positions in the order of merit, generating energy at a lower cost and providing an estimated benefit of $237 million to the Dominican state before taxes.
3. Innovation and Sustainability: In alignment with our dedication to sustainability and innovation, the Board of Directors has approved the construction of a 40-megawatt solar park valued at $33.3 million. This project has garnered substantial interest, with nineteen local and international companies expressing a desire to participate. This demonstrates confidence and enthusiasm for Punta Catalina’s renewable energy initiatives, contributing to the diversification and sustainability of the Dominican energy sector.

The statement concludes with a commitment from Punta Catalina to transparency, efficiency, and sustainability in all operations, emphasizing ongoing efforts to ensure reliable and economical energy generation for all Dominicans.