"Hurricane Maria has dealt a new blow to Puerto Rico’s bankrupt electric company — knocking out power for the entire island and imposing costly repair burdens on a utility that was already struggling with more than $9 billion in debt, poor service and sky-high rates.
And that means more hardship for local residents and businesses, whose electric rates are already more than twice the national average.
Even before it was hit by Irma and now Maria, the Puerto Rico Electric Power Authority said it needed more than $4 billion to overhaul its outdated power plants and reduce its heavy reliance on imported oil. The company filed, in effect, for bankruptcy July 2.
Now, with Maria toppling transmission lines and 100 percent of Puerto Ricans without electricity, PREPA faces millions of dollars more for hurricane repairs."
Steven Mufson reports for the Washington Post September 20, 2017.
SEE ALSO:
"Puerto Rico Will Need Billions In Federal Help After Hurricane Maria" (McClatchy)
Maria Deals Heavy Blow To Puerto Rico’s Bankrupt Utility, Electric Grid
Source: Washington Post, 09/21/2017
