Puerto Rico to privatize power company

As Puerto Rico continues its recovery from Hurricane Maria’s devastation, the island’s government plans to sell its public energy company’s assets in a bid to modernize their power supply system and recoup its economic losses. More than 30 percent of customers are still without electricity more than four months after the hurricane

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Looks like risky investment. Infrastructure averages roughly 45 years old, compared with 18 years on the U.S. mainland. Also, company has  a $9 billion debt load, filed for bankruptcy last year and faces longstanding accusations of mismanagement and corruption. 

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How did the public utility get so far into debt? Especially since they didn't invest in the infrastructure for decades 

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1 minute ago, Meanwhile said:

How did the public utility get so far into debt? Especially since they didn't invest in the infrastructure for decades 

Cuts, lack of regulatory oversight, lack of government's help....

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Get Musk in there with his storage systems. 

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Privatization will not cure the ills as long as the unions still control all the employees.It will just give the government a scape goat for the existing problems.

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Privatization is indeed a start. Not like there's not corruption in the private sector, but still... nothing says unprofitable like government.

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It is tragic when a government has to sell its agencies because of the poor performance  and lack of vision. 

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