RECO, CREE and Secretary of Finance discuss the development of projects for the Energy Industry of the Island

January 24th, 2018.

Executives of Roatan Electric Company (RECO) held meetings with the Energy Regulatory Commission (CREE) and officials of the Ministry of Finance with the objective of analyzing the development of projects for the energy sector of Roatan.

As a first instance, the meeting was held with the representatives of the Electric Energy Regulatory Commission, with the presence of Engineer Gerardo Salgado, CREE Vocal Commissioner, Mario Cardona, Director of the Social Electricity Development Fund (FOSODE) and Legal Advisors of the institution.

The creation of a legal mechanism for the administration of the Social Electricity Development Fund (FOSODE) was discussed with the respective entities, which is proposed to be managed by a committee together with the representatives of FOSODE, RECO Electric Energy Company and local authorities.

Through the integration of the committee the objective is to establish an agreement for the proper management of social development funds collected through the 1% tax charged on electricity bills that will be destined to be executed in electrification projects for the benefit of the island of Roatan.

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