The $8.26 billion in debt claimed by the Puerto Rico Electric Power Authority (PREPA) bondholders should not be borne by island ratepayers and small investors, IEEFA Director of Financial Analysis Tom Sanzillo said in testimony to the island’s legislature. Instead, Sanzillo told the Puerto Rico Senate Permanent Commission on Strategic Projects and Energy that reducing […]
In a letter to the Puerto Rico Legislature, Tom Sanzillo, director of Financial Analysis at the Institute for Energy Economics and Financial Analysis (IEEFA), urged the House and Senate to reevaluate the ongoing bidding process to privatize operations of the island’s power plants. “We have observed the flaws in the privatization processes of LUMA Energy and […]
On Wednesday, the US House of Representatives Natural Resources Committee will hold an oversight hearing on Puerto Rico’s electrical system and the LUMA Energy grid privatization contract. Since LUMA Energy took over the island’s transmission and distribution system operations on June 1, electrical service in Puerto Rico has deteriorated even further — including unacceptably long outage […]
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