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Haiti - Economy : E-Power S.A undignified reveals the margin of EDH on each Kw
23/09/2017 07:54:45

Haiti - Economy : E-Power S.A undignified reveals the margin of EDH on each Kw
In a note, the Directorate and the Board of the Haitian Society E-Power S.A. are astonished and undignified over the last few weeks' speeches by individuals and relayed by certain Haitian and foreign media who directly or indirectly attacked the reputation and integrity of our company as well as the person of the President of our Board.

"For the edification of the general public and those who falsely accuse us in particular, we would like to say the following :

E-Power is a Haitian joint-stock company, composed of 126 Haitian investors who firmly believe in the future of their country and have not hesitated to invest 57 million US dollars in Haiti. This money was used exclusively to build a new electrical plant http://www.haitilibre.com/en/news-2112-haiti-economy-e-power-launches-its-30-megawatt-power-plant.html

in order to execute a contract signed with the Haitian State and the Electricité d'Haiti in 2008 following an international call for tenders launched by the State in 2006.

We won this tender because we were the cheapest [...] In fact, we are systematically the cheapest thermal plant in the country, cheaper than thermal plants operated by EDH , paradoxically less than the thermal plants donated by Venezuela to Haiti.

As an example, last month (August 2017) we charged the EDH a total of 14.90 US cents / kWh for a production actually delivered of 20.444.150 kWh, that the EDH resold until 22.54 cents US / kWh (51% more expensive than it paid to E-Power).

Out of these 14.90 US cents, E-Power spent 13.08 US cents to produce electricity delivered to EDH (88% of the amount charged). The production of electricity is not given, it has a cost. The profits on E-Power's operations are therefore only a small fraction of the prices charged to EDH.

Since our inauguration, the electricity that we deliver on the grid to EDH is measured by two professional meters whose calibration is verified by the latter. For more than three years, a third remote meter has also been installed at the request of the World Bank and has always accounted readings equal to the other two meters.

E-Power has no relationships either near or far with BMPAD, much less with the PetroCaribe program, E-Power does not receive direct fuel from the State or EDH.

[...]

The figures and facts presented here are rigorously audited by an internationally recognized independent auditing firm and these figures are submitted annually, in accordance with the applicable tax laws, to the Directorate General of Taxes of the Republic of Haiti.

[...]


We firmly believe that we are not part of the problem but rather of the solution [...]"


HL/ HaitiLibre

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