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.
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Luma Energy won approval from Puerto Rico’s financial oversight board for a contract extension to run the island’s government-owned power grid amid criticism that the historically fragile electric system remains unreliable, Bloomberg News reported.
Puerto Rico’s bankrupt public electric utility, which powers most of the island, faces a Dec. 1 deadline to file a debt-cutting proposal to the court, a time limit that could prove a turning point in its five-year workout, Bloomberg News reported.
A Canadian-American consortium swept into Puerto Rico last year with promises to transform the island’s antiquated power grid. Many residents welcomed the change, tired of subpar service from a state-run utility that left them in darkness for months after a strong hurricane five years ago.
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The Financial Oversight and Management Board for Puerto Rico was created under the Puerto Rico Oversight, Management and Economic Stability Act of 2016. The Board consists of seven members appointed by the President of the United States and one ex officio member designated by the Governor of Puerto Rico. Access information on the Board, documents, videos of meetings, calendar of events and live webcasts by clicking here.