Perspectives on Remittance Flows in 2025

LATIN AMERICA ADVISOR

Energy ADVISOR

A daily publication Of the dialogue

March 22, 2024

Will a Debt Plan Strengthen Puerto Rico’s Power Firm?

A federal court is seeking to resolve the Puerto Rico Electric Power Authority’s debt, much of which stems from the destruction of Hurricane Maria in 2017, which downed power lines and knocked out the island’s electric grid. // File Photo: U.S. Government Accountability Office.

Q

A

Cate Long, partner at the Puerto Rico Clearinghouse: “The bondholders of the Puerto Rico electric utility, Prepa, first extended liquidity to the agency in 2014 when they encountered cash flow problems. The bondholders then negotiated a series of restructuring support agreements (with an 84 percent recovery), and Congress grandfathered the last of those into Promesa, the federal law that provides a framework to adjust debts. The federally appointed oversight board threw out that negotiated agreement over the protest of Congress and instead commenced litigating in 2017 prior to Hurricane Maria. Bondholders began petitioning the court for authority to appoint a receiver, which is their right in…”

Top News

BP Meets to Talk Trinidad Gas Field Possibilities
Delegations from Trinidad and Tobago, Venezuela and oil giant BP met to discuss the possibility of turning the Manakin and Cocuina gas fields into one.
Czech Firm Solek To Build Chilean Solar Plant
Czech solar energy group Solek announced that it plans to construct a new 95.2 megawatt solar facility in Chile’s central Valparaíso region.
Top Candidate Vows to Bolster Mexican State Oil Companies
The front-runner in Mexico’s upcoming presidential elections, Claudia Sheinbaum, promised on Monday to boost the country’s state-owned energy companies as well as speed the transition to renewable energies. // File Photo: Mexico City Government.

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ABOUT THE Energy ADVISOR

A sister publication of the Inter-American Dialogue’s daily Latin America Advisor, the weekly Energy Advisor captures fresh analysis from business leaders and government officials on the most important developments in oil and gas, biofuels, the power sector, renewables, new technologies, and the policy debates shaping the future of energy in the Western Hemisphere and beyond. To subscribe or for more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.

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Staff

Gene Kuleta
Editor
P. 202.463.2920
E. gkuleta@thedialogue.org

Carl David
Goette-Luciak
Reporter

Nili Blanck
Reporter

board of advisors

Nigel Blackaby
Global Head, International Arbitration Group,
Freshfields Bruckhaus Deringer

Jimena Blanco
Chief Analyst,
Verisk Maplecroft

María José Cortés
Head of ESG,
Atlas Renewable Energy

Jeffrey Davidow
Senior Counselor,
The Cohen Group

Analia Gonzalez
Leader, Arbitration & Litigation,
Laitn America, BakerHostetler

Jonathan C. Hamilton
Partner,
White & Case

Raul Herrera
Partner, Corporate &
Securities Practice,
Arnold & Porter

James R. Jones
Chairman,
Monarch Global Strategies

Jorge Kamine
Partner, Corporate &
Financial Services,
Willkie Farr & Gallagher

Craig A. Kelly
Senior Director,
Int’l Government Relations,
Exxon Mobil

Jeremy Martin
Director,
Energy Program,
Institute of the Americas

Larry Pascal
Chairman, Americas
Practice Group,
Haynes & Boone

R. Kirk Sherr
President,
Clearview Strategy Group

Daniela Stevens
Director,
Energy Transition and Climate Program,
Inter-American Dialogue

Doris Rodríguez
Partner,
Hunton Andrews Kurth

Alexandra Valderrama
Director,
International Government
Affairs, Chevron

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