Call for Fair Puerto Rico Power Debt Restructuring Without Rate Hikes.
The U.S. Senate urges the creation of a new, sustainable debt restructuring plan for the Puerto Rico Electric Power Authority (PREPA) that avoids increasing electricity rates for residents and businesses. The current proposed plan introduces a new "legacy charge" that would raise bills by 12-13%, threatening the closure of thousands of small businesses and accelerating out-migration. The resolution aims to protect citizens from unaffordable increases and facilitate the transition to cheaper renewable energy.
Key points
Puerto Rico residents pay some of the highest electricity rates in the US despite low median incomes, while the electrical system remains fragile.
The proposed PREPA debt restructuring plan introduces a new charge that would increase residential bills by an average of about $19 per month, jeopardizing small businesses.
The Senate urges the adoption of a plan that is economically viable for all parties and explicitly prohibits imposing additional electricity rate increases on residents and business owners.
Status:
Expired
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