​Finally, the Electric Pact was signed

DOMINICAN REPUBLIC - In Brief 26 Feb 2021 by Magdalena Lizardo
Yesterday the National Pact for the Reform of the Electricity Sector 2021-2030 was signed. This Pact aims to “build a agreed vision of the electricity system to guide the actions to be developed in the short, medium and long term for the Dominican Republic to have definitively an efficient, competitive and sustainable electrical service over time.” The Electric Pact addresses aspects related to the roles of the different actors involved in the electricity sector in accordance with constitutional mandates; the regulatory regime that must ensure free competition, the promotion of efficiency, attraction of investments, consumer protection and ensuring transparency and accountability; responsibility in environmental matters and adequate risk management; financial sustainability, business plan and strategic plan for the improvement of the management of electric companies; development of long-term expansion plans at minimum cost of generation, transmission and distribution activities; mechanisms for monitoring and oversight of compliance with the agreed commitments. The Pact was signed with the presence of President Abinader and the President of the Economic and Social Council, Rafael Toribio, and representatives of the political parties (PRM, PLD, PRD), business, union and civil society. The Electric Pact is the second agreed pact, of the three pacts consigned in the Law of National Development Strategy. The first was the Educational Pact. Only the discussion and agreement of the Fiscal Pact is pending.

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