WILLEMSTAD - The financial situation at water and electricity company Aqualectra is serious, according to director Darick Jonis. Aqualectra is heading for a negative cash position of 41 to 44 million guilders at the end of 2020. The employees have been informed of the serious situation at the utility company.

The unions received a separate letter from Jonis about the need to cut certain secondary employment benefits. All in all, this saves 14.5 million in labor costs up to the turn of the year, of which 10.5 million is cash. And the latter is what matters most now: the utility company will run into liquidity problems if it continues like this. This is what a Financial Impact Study shows. In mid-April there was still 25 million in cash, but this is drying up quickly. The reason is the corona crisis and its effects. These are substantial for the company.

Contrary to what many, if not most, people think - that there is a greater demand for electricity and water because many people are now working from home or sitting at home - there is a decline. It has fallen by 15 percent. This is because many hotels, apartment complexes, catering establishments, but also other non-tourist companies are closed and therefore have no electricity demand.