Nov. 12, 2019
Puerto Rico’s electric system was destroyed by Hurricane Maria in 2017. Will privatization of the island’s electric utility ensure reliable and affordable energy for the future?
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In 2017 Hurricane Maria destroyed Puerto Rico’s electric grid, cutting off power to the island’s residents, some of whom remained without electricity for nearly a year. The island’s publicly owned power utility, PREPA, is now for sale, and it’s hoped that privatization will deliver an electric grid better prepared to endure future tropical storms, and to deliver power that Puerto Ricans can afford.
David Skeel, member of Puerto Rico’s congressionally mandated Financial Oversight and Management Board tasked with guiding the recovery of Puerto Rico’s bankrupt economy, talks about PREPA’s controversial privatization plan and the challenge of overcoming years of mismanagement and corruption that have dogged the utility.
David Skeel is the S. Samuel Arsht Professor of Corporate Law at the University of Pennsylvania Law School and a member of Puerto Rico’s Financial Oversight and Management Board.
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Climate Change and Financial Risks https://kleinmanenergy.upenn.edu/policy-digests/climate-change-and-financial-risks
Power Over the Twenty-First Century Electric Grid https://kleinmanenergy.upenn.edu/policy-digests/power-over-twenty-first-century-electric-grid
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