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Thursday, October 8, 2015

Electric Rates Expected To Rise, Privatization Coming

Caribbean Business


The residential-consumer representative at the Puerto Rico Electric
Power Authority (Prepa) board, Carlos Gallisá, said Wednesday the
utility is moving forward on a hike to the island's already sky-high
electric rates.

The former Puerto Rico Independence Party leader said this had al-
ready been promised to the bondholders of the authority, which would
also have representation at a revamped governing board.

In addition to this, Gallisá said the board also approved Prepa could
begin to privatize energy generation on the island. It currently produ-
ces around 70% of the total electricity...[CONTINUE READING]

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