The Puerto Rico Energy Commission on Tuesday issued an order establishing a reduction of 21 percent on the provisional rate that the Puerto Rico Electric Power Authority effected in August 2016.
The Puerto Rico Electric Power Authority has asked creditors for a two-week extension through May 13 to file its rate case before the Puerto Rico Energy Commission, which is a key element in the restructuring support agreement reached with creditors.
The Puerto Rico Aqueduct and Sewer Authority is considering dipping into its rate stabilization fund to pay off $90 million due to creditors by month’s end, which would drain the reserve entirely, utility officials said Monday.