Supporters of the Puerto Rico Electric Power Authority’s proposed debt restructuring agreement — including Gov. Ricardo Rosselló and PREPA Executive Director José Ortiz — have recently argued that the rate increase imposed by the agreement will be mitigated by operational savings that will lower electricity rates. The governor’s and PREPA’s public statements about rate decreases […]
The Institute for Energy Economics and Financial Analysis (IEEFA) and Puerto Rican nonprofit CAMBIO obtained a court agreement pledging the Puerto Rico Electric Power Authority (PREPA) to respond to and deliver within 14 days public documents regarding the PREPA privatization process, as well as data about the electrical system. The agreement between the parties was […]
A “business as usual” bond deal is about to be foisted upon Puerto Rico’s ratepayers and fledgling economy. It will result in a $400 million annual cash draw for at least the next 20 years. Think about wasting money on overpriced oil, political appointees and useless consultants over the last twenty years and then paying for […]
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