A long-running practice in which Puerto Rico’s public utility bought low-quality oil at high-quality prices has been mostly ignored in Gov. Ricardo Rosselló’s privatization of the Puerto Rico Electric Power Authority (PREPA), the Institute for Energy Economics and Financial Analysis claimed.
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.
The Puerto Rico Public Private Partnership Authority announced the start of the process to solicit market feedback in connection with the proposed transformation and modernization of the Puerto Rico Electric Power Authority.
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