Puerto Rico Power Privatization

FIle - An electricity meter shortly after it was installed at the Jobos Bay National Research Reserve in Salinas, Puerto Rico, May 3, 2022. Puerto Rico privatized its electricity production on Jan. 25, 2023, selecting Genera PR to take over the operation and maintenance of state power generation units in the U.S. territory as part of an initial $22.5 million annual contract.

SAN JUAN, Puerto Rico (AP) — Puerto Rico privatized its electricity production on Wednesday, selecting Genera PR to take over the operation and maintenance of state power generation units in the U.S. territory as part of an initial $22.5 million annual contract.

The announcement comes as the island struggles to rebuild its crumbling power grid amid chronic power outages blamed in part on what Gov. Pedro Pierluisi called “archaic and unstable” generation units.

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