Tag Archives: Rico&#39s

Puerto Rico's PREPA utility creditors say power grid damage is overblown

Puerto Rico's PREPA utility creditors say power grid damage is overblownBondholders of Puerto Rico’s bankrupt power utility, PREPA, said on Friday that the damage to the local electric grid by Hurricane Maria is not as bad as the island’s government says, and could be fixed quickly with an outside energy expert in charge.     The PREPA bondholders made the argument in a written filing in federal court in San Juan.



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Puerto Rico's path to restore power shifts after Whitefish exit

Puerto Rico's path to restore power shifts after Whitefish exitEfforts to restore electricity to Puerto Rico nearly six weeks after Hurricane Maria are shifting as the island’s utility and its regulators, along with U.S. authorities, removed a tiny Montana contractor and moved to triple the funding of another. The U.S. Army Corps of Engineers, which is leading the federal power restoration effort, said it planned to boost the size of a contract awarded to Fluor Corp by $ 600 million, to $ 840 million, pending available funds. Additionally, Puerto Rico’s Electric Power Authority (PREPA) made its first request for help from U.S. mainland utilities, known as mutual assistance, since the hurricane knocked out power to the island nearly six weeks ago.



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