January 15, 2023
Puerto Rico announced 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 move marks the beginning of the end for Puerto Rico’s Electric Power Authority, a behemoth long accused of corruption, mismanagement and inefficiency that holds some $9 billion in public debt — the largest of any government agency.
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