The Kobre & Kim report on Puerto Rico’s debt crisis shines a light on the corrosive impact of political hiring at various governmental agencies on the island, including at its public electric utility.
Breaking from following the usual pattern of filing a bill, then holding public hearings, Committee Chairman Larry Seilhamer and Sen. Eduardo Bhatia heard expert recommendations to then submit the draft regulatory framework.
Puerto Rico has a historic opportunity to rebuild its electrical system and phase out its obsolete oil-fired generation in favor of a much more decentralized and reliable system based on renewable energy.
To date, the FEMA Public Assistance program has obligated more than $3.4 billion in total funding to the government of Puerto Rico and municipalities, the federal agency stated.
A series of announcements over the past couple of weeks by Puerto Rican officials signals a new — and misguided — push for greater reliance on imported natural gas for electricity production.
The Financial Oversight and Management Board for Puerto Rico announced the adoption of two new policies to “foster accountability, transparency and efficient dealing” in certain government transactions and public projects.
The Financial Oversight and Management Board for Puerto Rico, the Puerto Rico Electric Power Authority, and the Fiscal Agency and Financial Advisory Authority have reached an agreement with the Ad Hoc Group of PREPA bondholders.
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.
The Edison Electric Institute presented ITC Holdings Corp. and WEC Energy Group with special recognitions.
Florida-based MasTec Inc. has signed a $500 million master services agreement with the Puerto Rico Electric Power Authority to complete the restoration of the critical electrical transmission and distribution system components damaged as a result of Hurricane María.
A budget review published by the Institute for Energy Economics and Financial Analysis of the approved fiscal-recovery blueprint for the Puerto Rico Electric Power Authority (PREPA) concludes that the plan faces billions in financial risks that will hinder the transformation of the grid.
The Puerto Rico Electric Power Authority announced that effective immediately, the public corporation will adopt a U.S. national standard for the design and reconstruction of the future electric grid in Puerto Rico.
A privatization approach to Puerto Rico’s energy needs based on “controlled introduction of competition in regional markets” could achieve the goal of aligning electricity generation with the island’s changing socioeconomic landscape.
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