
Puerto Rico's electricity crisis
Volts
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Puerto Rico's Electric Power Authority, or PREPA, Declared Bankruptcy
The Puerto Rican Electric Power Authority, or PREPA, declared bankruptcy. The Fiscal Oversight Management Board has been handing over operation and so-called maintenance of the grid to a company called Luma Energy. It's a joint venture between Qantas Services, a big transmission company from Texas, and at Co-Canadian Utilities. So they're expecting a big windfall from this historic amount of disaster recovery funds that are available for the electric system but have not been used to a great extent.
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