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Puerto Rico Energy Debt Restructuring: Stable Rates for Growth

This US Congressional resolution highlights the need for a fair debt restructuring plan for Puerto Rico's electric utility (PREPA). The goal is to ensure stable electricity rates, preventing further emigration, business closures, and unemployment, while enabling grid modernization and a transition to renewable energy. Puerto Rico residents face some of the highest electricity rates in the US, and proposed increases could devastate local businesses.
Key points
Unsustainable electricity rates in Puerto Rico are causing out-migration and business closures.
Congress urges a PREPA debt restructuring plan that avoids additional rate increases for residents and businesses.
The new plan should facilitate grid rehabilitation and a shift to renewable energy, reducing future costs.
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Additional Information
Print number: 118_HCONRES_55
Sponsor: Rep. Velazquez, Nydia M. [D-NY-7]
Process start date: 2023-06-30
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Recognizing the need for a sustainable, economically viable, and fair debt restructuring plan for the Puerto Rico Electric Power Authority.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HCONRES_55.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-06-30.

What are the main provisions?

Key points include:

  • Unsustainable electricity rates in Puerto Rico are causing out-migration and business closures.
  • Congress urges a PREPA debt restructuring plan that avoids additional rate increases for residents and businesses.
  • The new plan should facilitate grid rehabilitation and a shift to renewable energy, reducing future costs.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Velazquez, Nydia M. [D-NY-7].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Natural Resources.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

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