The Puerto Rico Electric Power Authority, and the island’s energy sector as a whole, must be overhauled following the destruction caused by Hurricanes Irma and María to be more resilient and responsive to emergencies.
Line mechanics, crew leaders, safety personnel — and bucket trucks — from Exelon’s six utilities are on their way to Puerto Rico to add even more resources to the electric industry effort to restore power to the island.
Assured Guaranty, a monoline insurer for Puerto Rico Electric Power Authority debt, reacted to the administration’s announced plans to privatize the utility by saying agreeing on an “on an experienced, highly qualified manager able to impose order, transparency and accountability” is long overdue.
Puerto Rico Gov. Ricardo Rosselló announced his administration will begin the privatization of the Puerto Rico Electric Power Authority (PREPA), which he described as “a deficient and obsolete system of generation and distribution of energy on the island that was evident to citizens during the aftermath of Hurricane María.”
Atlanta-based Southern Company announced that lineworkers and support staff from each of Southern Company's four electric operating companies — Alabama Power, Georgia Power, Gulf Power and Mississippi Power — were deployed to Puerto Rico over the weekend.
Sunnova Energy Corp., the largest provider of distributed, residential solar power in Puerto Rico, shot down reports of an alleged interest in purchasing the Puerto Rico Electric Power Authority, as a whole or in part, as a high-ranking executive of the utility stated.
The rush for the energy market after Hurricane María has been so high that three companies have separately made offers to buy all of the Puerto Rico Electric Power Authority’s assets.
Gov. Ricardo Rosselló introduced a measure to the Puerto Rico Legislative Assembly that would allow the central government to issue loans to the Puerto Rico Electric Power Authority (PREPA) and the Puerto Rico Aqueduct and Sewer Authority (PRASA).
Florida Power & Light Company announced 140 additional company lineworkers and support staff deployed to Puerto Rico to help restore power to areas impacted by Hurricane María's landfall.
Arizona-based APS is sending 50 line workers and support staff to Puerto Rico early this month to assist with ongoing power restoration efforts on the island, the company announced.
Fluor Corporation confirmed Thursday that it has completed work on portions of three priority 38kv power lines in large urban areas near San Juan and a fourth priority 38kv line near Caguas.
Several investor-owned electric companies that are members of the Edison Electric Institute will deploy nearly 1,500 additional restoration workers and support personnel to Puerto Rico in early January to accelerate ongoing power restoration efforts across the island, the EEI said.
Sunnova Energy Corp., which provides distributed, residential solar power in Puerto Rico, delivered a letter to the Puerto Rico Electric Power Authority (PREPA) blasting it for its “continued inaction and reluctance to work cooperatively with Sunnova.”
Puerto Rico Electric Power Authority bondholders can expect to recover about 35 percent of their investments due to the business disruption and costs, as well as lost revenues related to damage caused by Hurricanes Irma and María, Moody’s Investors Service predicted in a report released Thursday.
The Puerto Rico Electric Power Authority (PREPA) announced Wednesday the names of 11 utility industry leaders who will serve as founding members of PREPA’s Transformation Advisory Council (TAC).
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