The surprising paralysis of the certification of the representatives of the public interest in the Puerto Rico Electric Power Authority’s governing body is the most recent example of an arbitrary system that has taken power with impunity and that self-reproduces at the expense of the best interests of the people.
Gov. Luis Fortuño administration officials took Moody’s Investors Service’s decision to cut the Puerto Rico Electric Power Authority’s credit rating down a notch in stride Wednesday, saying it was “expected” and would not have an impact on the upcoming $475 million bond emission.
The Puerto Rico Electric Power Authority’s new residential rate that goes into effect today for the island’s residential customers is a temporary subsidy that does not imply efficiency improvements at the agency, the Center for the New Economy concluded Wednesday.
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