A residential customer who paid $230.59 for their monthly electricity bill during the current quarter will pay $36.62 more, or $267.21, for the same monthly consumption starting in July. (Credit: Lovelyday12 | Dreamstime.com)
“Customers continue to spend, maybe not at the same pace as during the [COVID-19] pandemic, but it continues to be the motor of the economy in Puerto Rico and in the [mainland] U.S.”
— Ignacio Álvarez, CEO of Popular Inc., on the bank’s first-quarter earnings, which although declined compared to last year’s figures due to industry-wide adjustments, sustained consumer spending remains a positive indicator.