CEM to have contract extended for 15 years

Macau’s only electricity utility CEM will have its contract renewed for 15 years next month, according to the director of the Energy Sector Development Office, Arnaldo Santos. Mr Santos said that the new contract would reduce the current 12-percent guaranteed profit return rate to a single digit rate, according to Macau Daily Post. With the new contract, CEM will retain its monopoly as Macau’s only electricity supplier.