6 days ago
Puerto Rico Takes Step Toward Ousting Grid Manager Luma Energy
Puerto Rico filed a notice against Luma Energy, the US-Canadian consortium that manages the island's troubled power grid, in what is seen as an initial step toward modifying or breaking the contract.
'Puerto Rico's electric customers have endured nearly four years of rolling outages, ballooning costs, and broken promises — even as billions in federal reconstruction dollars sit idle,' the Public-Private Partnerships Authority wrote to Luma. 'Despite repeated written notices and good faith attempts to secure voluntary compliance, Luma continues to flout its most basic obligations.'
