The law that Puerto Rico enacted last month to privatize the Puerto Rico Electric Power Authority has many flaws, including labor protections that are too weak, an unnecessary restructuring of the Puerto Rico Energy Commission and a lack of commitment to strong energy planning, the Institute for Energy Economics and Financial Analysis affirmed.
In a letter to Gov. Ricardo Rosselló and the Chairman of the Financial Oversight and Management Board for Puerto Rico, two Congressional lawmakers called for the protection of the Puerto Rico Energy Commission from efforts to weaken or undermine its jurisdiction by consolidating it with other agencies or by privatizing the Puerto Rico Electric Power Authority and exempting PREPA from PREC’s supervision.
The Private Sector Coalition expressed its opposition to Reorganization Plan No. 8, which proposes creating the Puerto Rico Public Service Regulatory Board. and urged lawmakers to block the plan.
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