Dive Brief:
- The Puerto Rico Electric Power Authority (PREPA), the U.S. territorys public utility and only electricity provider, has received approval from its governing board for a rate increase of $0.04/kWh to help underwrite of its $9 billion debt restructuring deal.
- If approved by the Puerto Rico Energy Commission (PREC), ratepayers will see a $0.013/kWh higher volumetric charge for electricity beginning in August and a $0.0299/kWh increase during Q1 2017. Without recent debt restructuring moves, the rate increase would have been $0.11/kWh, according the utility.
- In the restructuring, bondholders and bond-insurance companies…
Read the full article at: http://www.utilitydive.com/news/puerto-rico-utility-board-approves-rate-increase-to-help-secure-restructure/419993/