Natural gas tank for AES power plants.
Power companies to provide 95% of the energy demand in December
Santo Domingo.- The Dominican Electrical Industry Association’s (ADIE) Council of Directors met Wednesday with State-owned Power Companies (CDEEE) executive vice president Celso Marranzini, to deal with the topic of the Dominican energy sector’s current and future situation.
In the meeting Marranzini announced that the generating companies would be paid a US$100 million installment today.
The installment forms part of the agreement with the International Monetary Fund, whose letter of intent contemplates that the balance of the debt with the sector would be paid before yearend 2010, for which different mechanisms are being evaluated.
In the meeting a goal was set to supply 95% of the energy needs during December.
In that regard the president of the ADIE and of the company AES Dominicana, Marco De La Rosa noted that the accumulated debt with the generators is nearly 500 million dollars.
The ADIE Council members reiterated their support to the CDEEE vice president and their commitment to seek long term solutions for the sector together.
They also stressed the need to bolster and work together with the Coordinating Organism and the National Energy Commission in an indicative plan to expand generation and diversify the energy grid.
In that regard, AD|IE has been invited by the National Energy Commission to a meeting on November 23, to make recommendations on the Electrical Sector’s structure and future, as part of the draft of the national energy plan.
Written by: josean, 19 Nov 2009 4:11 PM
From: United States
Everybody is reaching into the Cookie Jar!
Written by: Juango, 19 Nov 2009 4:16 PM
From: United States, far S. Florida (formerly Santo Domingo)
Great news ! DR pays 20% of debt to the Electrical generators for a promise to keep the lights (95%) on through Christmas holidays. Happy times are here again ! Time to party !
Written by: vacanos, 19 Nov 2009 4:41 PM
From: United States
Josie do you remember the little smurf cartoon. Cual de todos lo PITUFITO se parece a ti. Yo digo que tu te parecia a pitufo gruñon. Que tu crees?
Written by: josean, 19 Nov 2009 5:05 PM
From: United States
You need to elevate the quality of your attempts at producing degrading comments. Remember I have been attacked by the best and you are still at ankle level.
So come on anos more creativity, please!
Written by: vacanos, 19 Nov 2009 5:45 PM
From: United States
Jossie no te me quille carajo!
Written by: josean, 19 Nov 2009 5:57 PM
From: United States
I never get mad, just even!
Written by: ateo1992 
, 19 Nov 2009 6:45 PM
From: Dominican Republic
Josean why don't you go back to hatixchange, that's where you belong, you forgot what a shithole your country is compare to ours i mean big time shithole...
Written by: Juango, 19 Nov 2009 6:50 PM
From: United States, far S. Florida (formerly Santo Domingo)
My my, such nasty remarks are uncalled for. It is time for celebration, the DR will have "luz para las navidades". Be happy, celebrate ! Perhaps the Metro will not have any unscheduled interruption of service, during it's first Christmas !
Written by: josean, 19 Nov 2009 6:52 PM
From: United States
ateo1992,
Thank you for that valuable and eloquent contribution.
Written by: juanb, 19 Nov 2009 7:04 PM
From: Dominican Republic
Lost in these idiotic postings is the fact that Marranzini said he would do something and is actually doing it.
Written by: juanb, 19 Nov 2009 7:09 PM
From: Dominican Republic
Listen to this jerk:
Montas defends debt
Increasing debt instead of cutting public spending has been a common practice by DR governments at times of financial difficulty. Hoy reports on Economy, Planning and Development Minister Temistocles Montas' defense of the recent loans taken out by the government, which have increased the foreign debt. Montas said that its not that the PLD party has a knack for taking on more debt, but that the financial crisis the DR is facing forced the government to take on more loans to stimulate the economy.
He did admit that taking on more debt is a cause for concern, but continued his justification by saying that all countries have followed this pattern of more debt to deal with harsh economic situations. Montas went on to compare the DR's debt to that of the US and European countries.
Written by: ateo1992 , 19 Nov 2009 8:20 PM
From: Dominican Republic
you welcome Josean :)
From: United States, Fresh Water Paradise-NY Finger Lakes
Given payment commitment to other debt, how will DR ever be able to cancel this debt.
Most revenue streams are dry or drying, so perhaps the tools of last resort would be what politicians always employ: greater taxation and fees.
For the private electrical energy suppliers this deal doesn't seem that good or feasible and, frankly, I don't understand why they stay with it. Maybe they are just not good business people.
DR is clearly living beyond its means and, as we've just experienced here in US, the day of reckoning shall soon arrive, and it might be closer than you would think. Everybody and every country must live within their means and budget, especially 3rd world countries with measly revenue streams and life styles of more advanced 1st world nations.
We may have to go back to "velas" and moonlight for a while, until we have satisfied our debt, or Jugo Chavez steps in and pays it off to assure LFR's vote in another run at UN post.
My jaundiced eye view.
From: United States, New York City
This is only a bandaid to the problem, like always the government looks for a temporary solution to a problem that should have been resolved a long time ago.
The questions that the citizens should be asking are, what will happen after the month of December?, will a significant improvement be seen in the future, or will it be back to business as usual with empty promises ?.
They need to look for real solutions and stick to them, not a quick fix.
From: United States, Fresh Water Paradise-NY Finger Lakes
MkrdPhase,
I believe we are presently upside-down in usage-payment equation, and rate of debt increase is far above payment rate, meaning we will continue to go deeper down the hole. We are paying off $100M on a $500M debt, but yearly electrical energy usage is, let's say $300M, so we would operate at net deficit of $200M and higher every year, with no end in sight. Remember that debt is cumulative! Before long, we would owe >$1B.
I don't know exact figures for nationwide [DR] yearly energy usage, so above values are assumed; it could be better or worse, but my point was to illustrate how we are in a deep abyss-from which it shall prove highly difficult to crawl out. This is the sad reality of the situation; no government shall be able to fix this easily.
What's the scrap value of the METRO? Perhaps we could sell it for scrap while steel & copper costs are near the top....it could all be downhill from here!
Again, my jaundiced eye view.
Written by: msjersey, 21 Nov 2009 10:12 AM
From: United States, New Jersey(Cibaeno/Los mina)
I don't think joseano had his daily banana.
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So come on anos more creativity, please!
Thank you for that valuable and eloquent contribution.
Montas defends debt
Increasing debt instead of cutting public spending has been a common practice by DR governments at times of financial difficulty. Hoy reports on Economy, Planning and Development Minister Temistocles Montas' defense of the recent loans taken out by the government, which have increased the foreign debt. Montas said that its not that the PLD party has a knack for taking on more debt, but that the financial crisis the DR is facing forced the government to take on more loans to stimulate the economy.
He did admit that taking on more debt is a cause for concern, but continued his justification by saying that all countries have followed this pattern of more debt to deal with harsh economic situations. Montas went on to compare the DR's debt to that of the US and European countries.
Most revenue streams are dry or drying, so perhaps the tools of last resort would be what politicians always employ: greater taxation and fees.
For the private electrical energy suppliers this deal doesn't seem that good or feasible and, frankly, I don't understand why they stay with it. Maybe they are just not good business people.
DR is clearly living beyond its means and, as we've just experienced here in US, the day of reckoning shall soon arrive, and it might be closer than you would think. Everybody and every country must live within their means and budget, especially 3rd world countries with measly revenue streams and life styles of more advanced 1st world nations.
We may have to go back to "velas" and moonlight for a while, until we have satisfied our debt, or Jugo Chavez steps in and pays it off to assure LFR's vote in another run at UN post.
My jaundiced eye view.
The questions that the citizens should be asking are, what will happen after the month of December?, will a significant improvement be seen in the future, or will it be back to business as usual with empty promises ?.
They need to look for real solutions and stick to them, not a quick fix.
I believe we are presently upside-down in usage-payment equation, and rate of debt increase is far above payment rate, meaning we will continue to go deeper down the hole. We are paying off $100M on a $500M debt, but yearly electrical energy usage is, let's say $300M, so we would operate at net deficit of $200M and higher every year, with no end in sight. Remember that debt is cumulative! Before long, we would owe >$1B.
I don't know exact figures for nationwide [DR] yearly energy usage, so above values are assumed; it could be better or worse, but my point was to illustrate how we are in a deep abyss-from which it shall prove highly difficult to crawl out. This is the sad reality of the situation; no government shall be able to fix this easily.
What's the scrap value of the METRO? Perhaps we could sell it for scrap while steel & copper costs are near the top....it could all be downhill from here!
Again, my jaundiced eye view.