$55 Million Spent On El Niño Drought That Never Materialized
(Panama-Guide) - Source - La Estrella -An error in forecasting the El Niño weather phenomenon caused Panama to buy an "emergency electrical insurance policy" for $55 million dollars, and now the government will have to decide how to best use those resources. In January, when an "imminent drought" threatened power generation in the country, the Electricity Transmission Company, Ltd., (ETESA) predicted there would not be enough water to sustain the continuity of electrical service during the summer months due to the El Niño phenomenon.
