The governing board of the Puerto Rico Electric Power Authority, the public corporation currently in charge of energy generation on the island, approved a contract that brings the U.S. territory one step closer to privatizing power generation, NBCNews.com reported.
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Puerto Rico announced yesterday that it will start cracking down on those who abuse the U.S. territory’s tax credit system, an opaque and long unregulated sector with claims that average about $270 million a year, the Associated Press reported.
Puerto Rico announced on Sunday that it plans to privatize electricity generation, a first for a U.S. territory facing chronic power outages as it struggles to rebuild a crumbling electric grid, the Associated Press reported.
The House on Thursday passed a bill that would allow Puerto Ricans to decide their future governing status, a long-sought goal on the island territory, the Washington Post reported. The vote was 233-to-191, with 16 Republicans breaking ranks and joining Democrats in backing the measure.