PR's Electric Utility Problems (2015, credit, prices)
U.S. TerritoriesPuerto Rico, Guam, U.S. Virgin Islands, etc.
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Ironically, the lower oil prices (lowest since depths of the financial crisis of 2009) are doing little to help PREPA because of a policy where the authority lowers the rate charged to customers if the cost of fuel falls.
Arguably if the authority maintained the same rate it charged when oil was $100/bbl, with oil now $40/bbl the authority could make good on its debts. If I were a creditor I would be looking to file suit to force the authority to raise its rates to repay the monies lent to it.
its all f up there. why cant the government change its ways? the governer thinks nothing of the residents imo
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