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Puerto Rico power company gives T&D reins to private firms

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SAN JUAN – Puerto Rico officials said Monday that a consortium of Canadian and U.S. firms will take over the transmission and distribution system of the island’s public power company in a long-awaited announcement involving one of the largest public utilities in a U.S.

jurisdiction. The deal marks the first time those operations will be privately managed since Puerto Rico’s Electric Power Authority was founded in 1941 and became a public utility in 1979, raising hopes that a company long accused of corruption, mismanagement and inefficiency could be reformed and modernized, leading to fewer outages and improved service.“You have a titanic challenge before you,” said Omar Marrero, executive director of Puerto Rico’s Fiscal Agency and.

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