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Gas Natural Fenosa says theft of electricity costing $50 million in Nicaragua

Wednesday, June 1, 2011

Spain’s Gas Natural Fenosa announced that it expects to lose $50 million this year in Nicaragua because of electricity customers who “commit fraud”.

Only 78 percent of customers pay their electricity bills, the company claimed.

The money that is consequently lost could be invested to renew the electricity distribution system in Managua, Gas Natural Fenosa said.

Original source (in Spanish): Efe