Governor Ricardo Rossello said yesterday that assets of the Puerto Rico Electric Power Authority (PREPA), the largest U.S. public power provider, could reap as much as $4 billion, Bloomberg News reported. The governor is seeking to place the bankrupt utility into private hands. He’s heard from some “people” that such a move could garner $2 billion to $4 billion, although those figures aren’t an asking price or an official valuation, Rossello said yesterday. The governor announced this month his plan to privatize PREPA after Hurricane Maria slammed into the island in September and destroyed its power grid. About 500,000 customers are still without electricity and the system is generating at 81 percent of its capacity, as of Tuesday. Rossello announced yesterday that a working group that will collaborate with Puerto Rico’s federal oversight board on PREPA’s privatization.
