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The Independent UK

National

Danica Coto

Puerto Rico to privatize power generation amid outages

Puerto Rico Electricity LUMA

Copyright 2017 The Associated Press. All rights reserved.

Puerto Rico announced Sunday that it plans to privatize electricity generation, a first for a U.S. territory facing chronic power outages as it struggles to rebuild a crumbling electric grid.

The move marks the beginning of the end for Puerto Rico’s Electric Power Authority, a behemoth long accused of corruption, mismanagement and inefficiency that holds some $9 billion in public debt — the largest of any government agency.

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