Puerto Rico to privatize bankrupt power utility

Published January 22, 2018 10:55pm ET



Puerto Rico will privatize its struggling state-owned power utility, Gov. Ricardo Rossello announced Monday, following decades of mismanagement and corruption and a halting response to Hurricane Maria.

Rossello’s decision to privatize the Puerto Rico Electric Power Authority comes as nearly 30 percent of the authority’s customers on the island remain without electricity, more than four months after the hurricane.

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