Page 303 - Chat del Gobernador de PR Ricardo Rosello (Telegram)

1/20/2019
Telegram Web
going to be brand new. In addition, thanks to these same recoveryefforts, there is a good senseof the conditionsof the system.Therefore,a lot of the uncertaintywith regardsto future capital expendituresis addressed.The lower uncertainty means lessrisk, a better businessopportunity, and willingnessby the biddersto offer a higher price."
In late NovemberPREPAcanceledplansfor buildingan offshore natural gas port at Aguirre, on the south coast.The authority had been preparingfor this port since 2010 and it was its chief plannedcapital project sinceat least 2012.
"The natural gas transshipmentport in Aguirre was going to cost PREPAconsumersmorethan $300 million,"saidPuertoRico SenateMinority LeaderEduardoBhatia."Thanks to our creation of an EnergyCommission,by Law 57-2014 that I authored, the public had a defenderwhich, in 2016, stoppedthis madness."In 2016 the EnergyCommissionbarredPREPAfrom proceedingwith the gas port.
"Natural gas investmentsin PuertoRicoare expensiveand risky," saidTomSanzillo,directoroffinanceatInstitutefor Energy Economicsand FinancialAnalysis."The island'sfiscal plan prioritizesrenewableenergy investmentsbecausethey are cheaperand anti-inflationary.If implementedit gives PuertoRico a fighting chaseto recoverand grow."
Peoplehad been planningfor the Aguirre gas port for a long time, Donnersaid, and it "seemed like it wasn't going to happen."
GivenPREPA'sellingof its power productionsystemit will be up to the new owners how much investmentto put into the use of natural gas, Donnersaid.
OnJuly30 a preliminarydealto restructurePREPA'sroughly$9 billion in debt was announced.
Therehavebeenconfidentialnegotiationsbetweenbondholders, 6:04:03 PM bond insurers,the OversightBoard,and possiblyrepresentatives
of the Rossell6governmentto bring enough bond-sidesupport
aboardto allow a vote in favor of the restructuring.
Beforethe board will file a plan of adjustment, it wants to gain the supportof bondinsurerswho insurethe bonds,Donnersaid. The fact that the board hasn't yet filed the plan isn't surprising becausethese sorts of deal are complicated,he said.
On Oct. 3 bond insurersNationalPublicFinanceGuaranteeCorp., AssuredGuarantyCorp., AssuredMunicipalGuarantyCorp., and SyncoraGuaranteeInc. filed a motion in PuertoRicoDistrict CourttobegiventhepowertonameareceiverforPREPAT.he
https:1/web.telegram.org/#/im?p=s1209505337 _ 15413785455230905639 303/889