In hearing held on Tuesday by the Puerto Rico House Committee on Economic Development, Planning, Telecommunications, Public-Private Partnerships and Energy, Christian Sobrino Vega, the executive director of the Fiscal Agency & Financial Advisory Authority (AAFAF by its Spanish acronym) said that the proposals for the transmission and distribution of the Electric Power Authority (PREPA) will be available in the first quarter of next year, Caribbean Business reported. In a written statement, Sobrino Vega said the island’s energy sector “is going through a process in which the variables change constantly,” including federal disaster recovery and mitigation funds, and future negotiations in the privatization of the public power corporation. Regarding the restructuring of the utility’s debt, Sobrino said it is “estimated that the terms of the preliminary agreement will achieve more than $3 billion in savings in debt service payments during the next 20 years.”
