President Luis Abinader ordered by decree 538-21 that the creation of a trust to administer the Punta Catalina Thermal Power Plant (CTPC).
According to the government document, the decree establishes the constitution of a public trust, of administration, investment, operation and source of payment, denominated Public Trust central thermoelectric end Punta Catalina (CTPC Trust).
The disposition of the Executive Power pursues “Create an independent management structure for transparent and efficient administration, in order to ensure the proper operation of the Punta Catalina thermoelectric power plant.”
In addition, an execution of the actions and works necessary for its conservation and maintenance.
Among its main purposes are: to preserve and optimize the operation of the Punta Caterina thermoelectric power plant, so as to ensure the separation of its assets, the continuity of its operations, including, but not limited to those relating to the generation of electrical energy and dispatch of the same to the National Interconnected Electrical System (SENI).
It also aims to ensure the proper and transparent management of the Central and the assets that make it up; as well as administering the assets of its assets, in accordance with the instructions given by the trustee to the trustee, through the Technical Committee of the Trust.
Other purposes of the decree are to participate in the provision of public electricity service and ensure the efficient and transparent use, in accordance with the law, of revenues and flows from the sale of energy generated by the CTPC.
The trust will have a duration of 30 years, counted from the date of signing the constitutive contract and after this period has elapsed and after fulfilling the conditions established in the contract, the trust assets will be extinguished and reinstated in the Dominican State., Except express extension by decision of the trustee, specifies the decree.