Puerto Rico ICSE’s Tomás Torres-Placa, Excerpted

Puerto Rico ICSE’s Tomás Torres-Placa, in “New Puerto Rico Energy Policy,” page 61, February’s Public Utilities Fortnightly:

“The challenge for public policy is not only the restoration of the electrical system, but to reverse the long-term trend toward declining population and declining gross domestic product in order to provide Puerto Ricans a better future. A redesigned electric system, along with reformed governmental and regulatory institutions, is necessary to restore economic growth in Puerto Rico.

Financial strategies need to be realistic, calibrated to the financial capacity of Puerto Rican ratepayers, including PREPA’s legacy debt restructuring. Finally, neither sustainable debt restructuring, nor access to federal funds can be achieved without trust in Puerto Rican institutions. This requires transparent public processes, and the development and strict adherence to objective, non-partisan standard regulatory procedures.”

Read the entire article here.