Fiscal Board seeks a 75% cut in PREPA debt

After certifying a new fiscal plan for the public utility, it proposes to only pay $2.5 billion.

June 26, 2023 - 2:19 PM

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Regardless of the cost, more and more citizens are installing solar panel systems in their residences, with a view to having a more stable electrical service. (luis.alcaladelolmo@gfrmedia.com)

By Joanisabel González

Editora de Negociosjoanisabel.gonzalez@gfrmedia.com

U.S. District Judge Laura Taylor Swain ordered the Fiscal Oversight Board and the major creditors of the Puerto Rico Electric Power Authority (PREPA) to file an updated report on how they will proceed with the utility’s bankruptcy process after the entity overseeing Puerto Rico’s public finances told the court that it will drastically amend the “Modified Second Amended Title III Plan of Adjustment of the Puerto Rico Electric Power Authority” it had proposed less than three months ago.