Hearing on US$8.3-billion PREPA restructuring deal delayed

A U.S. District Judge has canceled a Jan. 14 hearing on the Puerto Rico Electric Power Authority (Prepa) $8.3-billion restructuring deal, as requested by the Financial Oversight & Management Board and the Fiscal Agency and Financial Advisory Authority. This is the fifth postponement of the hearing and a new date hasn’t been set to discuss the restructuring support agreement (RSA), which includes a series of rate hikes over nearly 50 years that would impact all Prepa customers, including residents and businesses generating their own power.