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0 0 0 0.00143776824034338 0.00141630901287559 0.00504291845493567 0.00214163090128766 -0.0150429184549356
Stock impact report

Puerto Rico sues Luma in first push to cancel contract with private power company [Yahoo! Finance Canada]

Quanta Services, Inc. (PWR) 
Last quanta services, inc. earnings: 2/27 06:55 am Check Earnings Report
The lawsuit announced late Thursday comes more than five years after the government awarded a contract to Luma , a consortium made up of Calgary, Alberta-based Atco and Quanta Services Inc. of Houston. Luma, which took over the transmission and distribution of power in Puerto Rico in June 2021, inherited infrastructure that was crumbling after decades of neglect and mismanagement under Puerto Rico's Electric Power Authority, which is struggling to restructure more than $9 billion in debt. “Despite the operator's expectations and representations, the electrical system has not improved with the speed, consistency or effectiveness that Puerto Rico deserves and that LUMA promised and lied to us about,” Gov. Jenniffer González said. The ongoing outages, which also have been blamed on Genera PR, a private company that oversees the generation of power on the island, have spooked potential investors. They have repeatedly disrupted life in the U.S. territory, forcing small businesses to c Show less Read more
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