Through Law No. 365-22, the Punta Catalina Electric Generation Company, and this same regulation includes the suppression of the Dominican Corporation of State Electric Companies (CDEEE) and of the Rural and Sub-Urban Electrification Unit (UERS).
The purpose of creating this new EGE Punta Catalina is to transfer the ownership and administration of the electrical generation units, equipment, systems and buildings that make up the Thermoelectric Power Plant and that it manages and operates the plants, as well as being in charge of executing projects, businesses and investments, including the commercialization, administration and development of energy.
The law explains that the EGEPC it will be strictly state capitalwill have legal status, its own assets, the capacity to contract commercial and contractual obligations, according to its own management and control mechanism.
Regarding the control and management bodies of the new company, the law states that The Executive Power, within a period of 120 days, counted from the validity of this law, will determine by decree, the composition of the management bodiesadministration and control, faculties, as well as the positions of maximum hierarchy, integration and designation.
Suppression CDEEE-UERS
Likewise, the law explains that, from the entry into force of the same, The Dominican Corporation of State Electric Companies (CDEEE) is abolished, transferring its functions to the Ministry of Energy and Mines.
It adds that for the transfer of the assets of the CDEEE and the UERS, the Ministry of Energy and Mines must, in a period not exceeding thirty days, create a technical commission to conclude with the processes of definitive transfer of assets, liabilities and contingencies, in coordination with the Ministry of Finance.
Explain what the Ministry of Energy and Mines will be the legal successor of the CDEEEin relation to matters that subsist as of the effective date of this law, except as regards energy purchase and sale contracts, which will be in charge, according to the law, of the Energy Distribution Companies (EDE).
The regulations state that the patrimony of the CDEEE that is related to the functions of the Ministry of Energy and Mines, will be transferred to it and that which is related to the functions of state electric companies or entities, will be transferred to each of these, taking their respective functions as a reference.
In one of the recitals, the law explains that, in order to comply with the provisions of Law 100-13, of July 30, 2013, decree 342-20, of August 16, 2020, was issued, which declares high national interest the liquidation of the Dominican Corporation of State Electric Companies (CDEEE) and ordered the cCreation of the Liquidation Commission of the Dominican Corporation of State Electric Companies (CLICDEEE), for the programming, organization, direction and execution of the liquidation process of the CDEEE and its assets.