Panama Thermoelectric plant bankrupt

THE BANKRUPTCY of a thermoelectric plant In Colon could complicate Panama’s power supply during the dry season,
 Térmica del Caribe has announced the suspension of its operations and payment of its debts due to insufficient funds.
The thermoelectric company suspended its operations from February 5 in order to file for bankruptcy due to insufficient funds. The plant, located in Colon, has the capacity to generate 49.2 MW.
After “economic problems,” the manager of the company, Pastor Cabrera informed creditors that he would suspend payments, an industry source said, reports La Prensa.
Changes in the rules of the market fixing energy prices, and the increase in fuel and operating expenses, led to the bankruptcy.
The closure could complicate the power supply during this dry season when the amount of hydroelectric generation is reduced says CentralAmericaData