4.6 C
New York
Sunday, January 29, 2023

Mass protests erupt in Puerto Rico over power outage

Must read

I am Jessie Ford, a professional journalist and news writer. With over 10 years of experience in the field, I have earned an unwavering reputation as one of the most reliable and knowledgeable writers in the industry. I currently work at a news website where my primary focus is on writing about world news topics. My specialties include business, politics, international affairs and economics.My expertise has allowed me to develop strong relationships with numerous sources across many countries that allows me to get exclusive access to information about current events that can’t be found anywhere else. My articles have been featured in some of the leading publications worldwide including The New York Times, The Guardian and BBC News.
- Advertisement -

San Juan, November 28. Puerto Ricans protest power cuts amid controversial privatization of the island’s national power grid.

Many Puerto Ricans came out to protest the actions of the Canadian-American company Luma, which took over the island’s electrical system in June 2021. Despite the reassurance of the authorities that the arrival of a new owner will make it possible to modernize distribution networks and provide sustainable energy supply to their settlements, local residents report that the situation has worsened since then.

Mass protests erupt in Puerto Rico over power outage

At the same time, electricity tariffs for households and businesses increased several times. Luma representatives attribute the increase to the need to purchase oil and gas needed to generate electricity.

Even more outrageous among Puerto Ricans are the terms of Luma’s contract, which includes not only full financial repayment for the company’s operations, but also royalties, which are expected to exceed $120 million this year.

Mass protests erupt in Puerto Rico over power outage

As part of a privatization deal by the Puerto Rico State Electricity Corporation (PREPA), Luma has assumed responsibility for improving the electrical grid. The agreement empowers Luma to assess the health of the network and use funds, including $10 billion received from the US Federal Emergency Management Agency in response to Hurricane Maria.

However, more than a year after the agreement was signed, the situation with the island’s energy supply has worsened. According to Luma, this is due to an incorrect initial assessment of the state of the power grid and the inadequate qualification level of PREPA employees.

Earlier, it was learned that the former Finance Minister of Ukraine lobbied for the privatization of the Puerto Rico state energy company. Natalya Yaresko.

Source: Riafan

More articles


Please enter your comment!
Please enter your name here

Latest article