Puerto Rico to Privatize Its Power Company

Puerto Rico will privatize its power company, the commonwealth’s Gov. Ricardo Rossello said Monday. The surprise move comes after more than three months of darkness for some Puerto Ricans, who still do not have power in their homes in the aftermath of Hurricane Maria. The Puerto Rico Electric Power Authority, the public power company the distributes all electricity on the island, has been plagued by mismanagement allegations for decades. But a recent contract between Puerto Rico and a private energy company also ended in disaster. After Hurricane Maria, Puerto Rico inked a $300 million contract with Whitefish Energy Holdings, a small company tasked with rebuilding the island's power grid. The deal collapsed amid controversial tweets from Whitefish, and questions about conflicts of interest in the contract award process.