Dominica regains majority ownership of DOMLEC

The Dominica government Wednesday announced that it had acquired the majority shares in the island's electricity company (DOMLEC) following discussions that began a year ago with the Canadian-based energy company, Emera Incorporated.

Prime Minister Roosevelt Skerrit in a radio broadcast, did not disclose the amount being paid for ownership of the utility company but noted that on several occasions he had expressed publicly "the need for us to take the greater control of our energy security and correct a historic wrong, returning DOMLEC to the ownership of the Dominican people.

"This interest in the ownership of DOMLEC is predicted on the firm belief that our citizens are better served when the country's main utilities, such as water and electricity, are in the hands of the State," Skerrit added.

Skerrit told the nation that the former Dame Eugenia Charles fovenment had acquired the majority shareholding in DOMLEC from Commonwealth Development Corporation (CDC), but was later sold to CDC in 1997 by a United Workers Party administration.

He said 72 percent of the shares were sold the for EC$21 million.