Puerto Rico to privatize bankrupt power utility
by Josh Siegel | Jan 22, 2018, 5:55 PM
Puerto Rico will privatize its struggling state-owned power utility, Gov. Ricardo Rossello announced Monday, following decades of mismanagement and corruption and a halting response to Hurricane Maria.
Rossello’s decision to privatize the Puerto Rico Electric Power Authority comes as nearly 30 percent of the authority's customers on the island remain without electricity, more than four months after the hurricane.
“One of the greatest obstacles that has halted our opportunities for economic development is the deficient and obsolete system of generation and distribution of energy,†Rossello said Monday.
He said the government will begin selling PREPA’s assets in the coming days.
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http://www.washingtonexaminer.com/puerto-rico-to-privatize-bankrupt-power-utility/article/2646738
