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Puerto Rico Asks Buyers of Rickety Power System to Rewrite Rules [Bloomberg Business News]

The AES Corporation (AES) 
Last the aes corporation earnings: 2/28 06:00 am Check Earnings Report
Now that Puerto Rico ’s massive and moribund public power utility is almost back from the dead, Wall Street is weighing what its parts might be worth. The bankrupt U.S. commonwealth’s investment bankers last week started sounding out suitors for the eight-decade-old monopoly known as Prepa , whose rickety infrastructure was almost erased by Hurricane Maria in 2017. The halting efforts to repair the damage and improve the antiquated grid have been the central obstacle in recovery. Now, the government is so eager to find a solution that it is even asking companies that might privatize the system how they would prefer it to be regulated. The Prepa Palo Seco plant stands following Hurricane Maria. Photographer: Xavier Garcia/Bloomberg But it wasn’t immediately clear who would want a utility business on a broke island whose population has been increasingly fleeing to the mainland. Meanwhile, residents -- some still in the dark -- worried that a deal would enric Show less Read more
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