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Puerto Rico Signs Law To Overhaul Storm-battered Energy Utility

by bloomberg.com posted 2months ago 12 views
Puerto Rico Electric Power Authority employees fix power lines in Santurce, San Juan, Puerto Rico, on Oct. 19, 2017. Puerto Rico Governor Ricardo Rossello signed into law Wednesday a bill that clears the way for the partial privatization of the island’s bankrupt electric company, which has been plagued by aging infrastructure and mismanagement that left millions in the dark after Hurricane Maria. In addition to heralding a more storm-resistant energy grid, Rossello promised that the move would also lower above-mainland electricity prices for homes and business.