Puerto Rico utility debt restructuring will benefit bondholders, hurt ratepayers

Tag: 爱上海JV

first_imgPuerto Rico utility debt restructuring will benefit bondholders, hurt ratepayers FacebookTwitterLinkedInEmailPrint分享NBC News:Puerto Rico residents, who already pay almost twice as much for electricity as U.S. customers, are facing a 13 percent spike under an agreement government officials made to repay bondholders who own the debt of the island’s bankrupt power authority.The average residential household in Puerto Rico would start seeing an increase of approximately $11 per month by the summer of 2020, increasing costs to more than $130 a year, according to an analysis from the Institute for Energy Economics and Financial Analysis (IEEFA), a nonprofit that conducts research and analyses on financial and economic issues related to energy and the environment.“This deal doesn’t acknowledge the fundamental reality that the Puerto Rico economy is declining,” Cathy Kunkel, an energy analyst at IEEFA, told NBC News. “I don’t understand how they expect people to pay for this.”These increased costs come as Puerto Rico continues to struggle to recover from the wallop Hurricane Maria delivered in 2017, resulting in the total collapse of the island’s power grid and the world’s second-longest blackout.Rates are expected to gradually increase this year until fiscal year 2043 if the island’s legislature and bankruptcy courts approve the deal by the end of June. In almost 25 years, Puerto Ricans would be paying almost $20 more a month than they pay now — up to about $220 more a year per household until bondholders are paid off.IEEFA analysts estimate that, under the new deal, Puerto Ricans will pay more than $23 billion over the next 48 years, plus an additional $100 million to $200 million to cover the deal’s administrative expenses. “This is a great deal for the consultants and the financial and legal counselors involved, not for Puerto Ricans,” Kunkel said.More: Puerto Ricans already pay high energy prices. They could go higher.last_img read more


Tag: 爱上海JV

first_imgWICKETKEEPER/ batsman Anthony Bramble led the Guyana Jaguars spirited fightback with his maiden first class century and stole the limelight on day one of the seventh round Cricket West Indies (CWI) Professional Cricket League (PCL) Four-day encounter between the title-holders, and the Leeward Islands Hurricanes.The 27-year-old Bramble held the innings together after the hosts were reduced to 41-4 at one stage of the Day/Night encounter at the National Stadium, Providence.Watched by a handful of spectators, the right-hander’s effort with the bat has been instrumental in taking the Jaguars to 276-8 when bails were lifted.However, it was Bramble and Shivnarine Chanderpaul’s partnership which ensured the hosts ended the day with a marginal points victory.The pair had manufactured a salvage operation after they had been thrust together with the Jaguars in deep trouble just before the close of the first session. They added 118 for the fifth-wicket, with the ex-West Indies captain contributing 51.Bramble, who brought up his century when he cut Mervin Matthews through backward point for his 14th boundary, is unbeaten on 116 from 197 balls, hitting 16 fours and three sixes.Veerasammy Permaul is the other not out batsman on one.Shivnarine Chanderpaul drew on every ounce of his experience and defied a strong Leeward Islands Hurricanes bowling attack.After opting to bat, the Jaguars were left gasping for breath. Their openers’ Tagenarine Chanderpaul and Chanderpaul Hemraj were off to a sedate start, which resulted in a partnership of just 17 runs off 69 balls.The tourists’ seamers were tight and disciplined, and the dismissal of Chanderpaul was a combination of out-swingers and patience.The 21-year-old struggled once again to rotate the strike and his 35-ball resistance was ended when Jeremiah Louis nipped one away from the opener to have him caught behind for 10.The left-handed Leon Johnson was then trapped leg before wicket to off-spinner Rahkeem Cornwall without scoring, and from 21-2 it became 36-3 when Matthews then claimed the wicket of Vishaul Singh (5) with an extra bit of bounce from the track when the batsman edged him to Devon Thomas in the slips.The session turned decisively in the visitors’ favour as Hemraj, who struck four delectable boundaries in his 25, edged Cornwall to slip where Thomas again obliged with a sharp catch.But Chanderpaul and Bramble then cautiously guided their side through to the first break without further trouble.However, after the break the pair had other ideas as they began the rebuilding process with a steady partnership without major alarm. They gathered the runs at a decent pace – rotating the strike well and putting away the bad balls – as they extended their stand as the session progressed.Bramble was the faster of the two to reach fifty, registering his ninth at this level off just 70 balls, finding the fence on nine occasions, while Chanderpaul, who occasionally came out of his shell with crisp attacking strokes, had no problems in wearing down the tourists’ bowlers, as the pair continued untroubled until the interval.Soon after the interval, Chanderpaul smashed Chesney Hughes for his second six to reach his fifty off 115 balls, but medium pacer Thomas, after getting some reverse swing, then took the key wicket, trapping the left-hander leg before, at 159-5.Keemo Paul (5) went immediately after, caught off the bowling of left-arm spinner Hughes, but Bramble, who was joined by Sherfane Rutherford continued his resolute knock. The pair put together 64 before Rutherford was trapped leg before wicket to Cornwall for 23.Romario Shepherd (22) joined Bramble, and he too provided valuable support until he was bowled by Gavin Tonge. Play resumes today at 14:00hrs.SCOREBOARD GUYANA JAGUARS 1st innings Chanderpaul c wk Hamilton b Louis 6 Hemraj c Thomas b Cornwall 25 Johnson lbw b Cornwall 0 Singh s Thomas b Matthews 5 Chanderpaul lbw b Thomas 51 Bramble not out 116 Paul c Thomas b Hughes 5 Rutherford lbw b Cornwall 23 Shepherd b Tonge 22 Permaul not out 1Extras: (w-1, nb-15, lb-6) 22Total: (for eight wicket; 88 overs) 276Fall of wickets:1-17, 2-21, 3-36, 4-41, 5-159, 6-164, 7-228, 8-263Bowling: Tonge 12-3-43-1, Matthews 17-10-18-1, Louis 16-6-46-1, Cornwall 21-2-80-3, Warde 9-2-30-0, Thomas 9-0-30-1, Huges 4-0-23-1last_img read more