IEEFA: Effects of oil-purchase scandal undermine PREPA privatization, contract-reform initiatives
July 19, 2018
A long-running practice in which Puerto Rico’s public utility bought low-quality oil at high-quality prices has been mostly ignored in Gov. Ricardo Rosselló’s privatization of the Puerto Rico Electric Power Authority (PREPA), the Institute for Energy Economics and Financial Analysis claimed.
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Rosselló taps former PRASA chief Ortiz to head Puerto Rico Electric Power Authority
July 19, 2018
Puerto Rico Gov. Ricardo Rosselló announced the appointment of José Ortiz as the new executive director of the Puerto Rico Electric Power Authority.
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P.R.’s Dept. of Transportation to offer driver services via new app
June 26, 2018
The Puerto Rico Department of Transportation has launched the CESCO Digital Mobile application to enable users to conduct transactions that until Monday could only be done in person.
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Gov’t announces $1.5B in P3 projects to rebuild P.R.’s infrastructure, economy
June 22, 2018
This week, government officials confirmed six public-private partnership projects in the pipeline representing a combined $1.5 billion in investments in Puerto Rico’s infrastructure.
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2 P.R. co’s to participate in U.S. Customs’ P3s program
June 19, 2018
U.S. Customs and Border Protection announced 20 tentative selections for new reimbursable services agreements to promote economic growth in cross-border trade and travel across the country.
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Economist: ‘Employment at will’ may not be right solution for P.R.
June 11, 2018
The adoption of the so-called “employment at will” doctrine may not be the right solution for Puerto Rico’s low labor participation rate and stagnant economy, because it fails to address other underlying problems.
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P3 Authority opens call for feedback on PREPA transformation
June 6, 2018
The Puerto Rico Public Private Partnership Authority announced the start of the process to solicit market feedback in connection with the proposed transformation and modernization of the Puerto Rico Electric Power Authority.
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Rosselló presents Incentives Code bill to P.R. legislature
May 29, 2018
Puerto Rico Gov. Ricardo Rosselló submitted a new Incentives Code Bill to the island’s legislature, looking to “establish a new transparent and efficient process for the granting and overseeing of all incentives.”
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IEEFA Puerto Rico: PREPA’s approved budget faces 5 years of shortfalls
May 28, 2018
A budget review published by the Institute for Energy Economics and Financial Analysis of the approved fiscal-recovery blueprint for the Puerto Rico Electric Power Authority (PREPA) concludes that the plan faces billions in financial risks that will hinder the transformation of the grid.
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HUD awards $151M to improve, preserve federal public housing in P.R.
May 23, 2018
The U.S. Department of Housing and Urban Development announced the allocation of $151.5 million in annual funding to the housing authority in Puerto to help make needed capital improvements to the agency’s properties.
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CPAs support tax reform bill for introducing ‘significant changes’
May 18, 2018
Puerto Rico’s School of Certified Public Accountants expressed its support of House Bill 1544, which proposes a new Tax Code for the island, saying it introduces “a number of significant changes in the rate of income tax for both individuals and corporations.”
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Gov’t incentives to farmers, filmmakers, hospitals up for elimination
May 17, 2018
Gov. Ricardo Rosselló’s administration has put together a list of incentives granted to different sectors and companies that do not offer a return on investment to the public coffers, and will recommend their elimination.
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Rosselló meets with Facebook, Uber, Sunrun executives
May 11, 2018
During his trip to California this week, Puerto Rico Gov. Ricardo Rosselló, met with top Facebook, Uber, and Sunrun executives to generate an interest from them to collaborate, establish, or expand their operations on the island.
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PREPA adopts national standard for power grid design, reconstruction
May 8, 2018
The Puerto Rico Electric Power Authority announced that effective immediately, the public corporation will adopt a U.S. national standard for the design and reconstruction of the future electric grid in Puerto Rico.
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47 scientific organizations urge Rosselló not to dismantle Statistics Institute
May 8, 2018
Forty-seven stateside and international scientific organizations and professional societies sent a letter to Puerto Rico Gov. Ricardo Rosselló urging him to keep the Puerto Rico Institute of Statistics autonomous and independent.
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