Latest news with #JosueColon
Bloomberg
22-07-2025
- Business
- Bloomberg
Puerto Rico Board Cites Deep Concerns Over New Fortress LNG Deal
Puerto Rico's federal watchdog reiterated deep concerns about a contract that would give New Fortress Energy almost complete control of the island's liquefied natural gas deliveries for more than a decade, and said it has serious questions about how the deal was hammered out. 'There appears to be no entity that is accountable to explain the negotiations or the rationale behind the proposed terms and conditions, its impact on ratepayers, and the future of Puerto Rico's energy system,' the Financial Oversight and Management Board wrote in a letter to Josue Colon, the energy czar and the executive director of the Puerto Rico Public-Private Partnership Authority.
Bloomberg
14-07-2025
- Business
- Bloomberg
Puerto Rico Idles Power Plants as New Fortress Withholds LNG
Puerto Rico idled temporary power plants after New Fortress Energy Inc. scrapped a liquefied natural gas shipment to the US territory, threatening to strain the grid at the height of summer demand. The move by the US gas producer was unjustified, according to Puerto Rico energy czar Josue Colon. New Fortress said it made the decision because it's owed millions of dollars from projects that date back to 2020, but his office has no record of those debts, he said Sunday.
Bloomberg
10-07-2025
- Business
- Bloomberg
New Fortress' $20 Billion Puerto Rico Deal Halted by Board
By and Ruth Liao Updated on Save Puerto Rico's finance watchdog is refusing to OK a $20 billion natural gas supply deal that it said would give New Fortress Energy Inc. a near monopoly over the island's energy future. The Financial Oversight and Management Board has 'profound concerns' about a proposed 15-year contract between Genera PR — a New Fortress subsidiary that operates the territory's power plants — and the company unit that delivers liquefied gas, according to a letter to Puerto Rico's energy czar, Josue Colon.
