Puerto Rico residential electric bills may jump

New debt plan proposes spike in Puerto Rico power bills SAN JUAN, Puerto Rico (AP) — Residential electric bills in Puerto Rico could increase by an average of $19 a month if a federal bankruptcy judge approves a proposal filed Thursday to restructure the staggering debt held by Puerto Rico’s power company. AP NEWS

...The plan would cut by nearly half the more than $10 billion debt held by the Electric Power Authority — the largest of any government agency — and has the support of at least three major classes of creditors, according to a federal control board that oversees the U.S. territory’s finances and filed the proposal.

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