Puerto Rico’s governor signs regulatory reform bill

On Monday, Gov. Ricardo Rosselló announced that he signed into law a measure to create the Public Service Regulatory Board’s reorganization plan. This will entail a shake up of the Puerto Rico Energy Commission, which will now be known as the Energy Bureau, among other regulated entities. Projected savings are estimated at $12 million in its first year, about approximately $70 million in the next five years. The governor’s office stated that the bureau will maintain its complete independence in order to exercise its oversight.