Reports on Puerto Rico Electric Power Authority's preparation to sell at least $130 million of power system revenue refunding bonds on August 10, 2004, in a deal that could grow in size depending on market conditions. Possibility that the authority will advance refund $85 million of outstanding...
In the aftermath of Hurricane Maria, the island of Puerto Rico has been devastated with a loss of their electrical power infrastructure and lack of fresh water. The electrical infrastructure efforts are estimated to bring power back to the island in six months. The Puerto Rico Electric Po...
Meanwhile, Puerto Rico's government said in a statement late Monday that Whitefish is alleging nonpayment and that the power utility is reviewing and auditing Whitefish invoices. It also said the Electric Power Authority was forced to stop pending payments "until the situation with the White...
“The situation we have experienced for weeks on the island is unsustainable,” said Gabriel Hernández Rodríguez, president of the Puerto Rico Mayors Federation. “The impact on the economy and the daily lives of citizens and business owners due to the lack of ele...
The hurricane's impact prompted sharp scrutiny of the public utility in charge of the power grid -- the Puerto Rico Electric Power Authority (PREPA). Months before Maria, PREPA had declared bankruptcy, citing a $9 billion debt load. PREPA had issued bonds to finance the energy grid, but...
In the bankruptcy proceedingsof the power utility, Swain sided with borrowers and concluded that special revenue bondholders do not hold a secured claim on current and future net revenues. As The Wall Street Journal explained in March, "A federal judge curbed Puerto Rico bondholders' rig...
Puerto Rico Electric Power Authority said the last of its customers werefinally reconnectedin mid-August 2018, 11 months after the storm. The government's utility agency is bankrupt and has been plagued by scandal and insufficient resources. ...
Puerto Rico relies on fossil fuels, primarily diesel and other forms of liquid petroleum, for 98 percent of power generation. As a result, utility grid energy prices in Puerto Rico, in common with islands territories and nations throughout the Caribbean and around the world, are amo...
NEW YORK (Reuters) -An estimated 349,000 homes and businesses were still without power in Puerto Rico on Wednesday after Hurricane Fiona hit on Sept. 18, causing an island-wide power outage for its 3.3 million people. PowerOutage.us, which estimates outages based on utility data, sai...
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