Plans to privatize Puerto Rico power after Maria hit snag

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by The Associated Press

Posted Jan 28, 2019 2:07 pm EST

SAN JUAN, Puerto Rico Plans to quickly privatize Puerto Rico’s hurricane-damaged electrical power system have hit a snag with the U.S. territory’s House and Senate at odds over a bill to allow sale of the transmission and distribution system.

Senators are balking at the bill because the House of Representatives amended the measure to cap the price of energy at 20 cents per kilowatt hour a price that some say may be too low if generation costs rise.

The governor announced plans to privatize the system more than a year ago, in part to attract investment the debt-laden government itself cannot afford.

Senators on Monday announced their opposition to dozens of investors and energy experts at a two-day conference on rebuilding the power grid more than a year after Hurricane Maria destroyed it.

The Associated Press

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