Puerto Rico utility debt restructuring will benefit bondholders, hurt ratepayers

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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


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first_imgThe Ministry of State Property of Croatia in line with the Decision by the Croatian Government on determining the conditions and publishing the public call for submission of binding offers for realization of the Czech Villa Hospitality-Tourism Project in the Town of Vis on the Island of Vis and appointment of the committee for assessing offers and monitoring realization of the project. .in publishing this call, invites all domestic and foreign, financially capable investors that also possess experience in design, construction,In publishing this call, invites all domestic and foreign, financially capable investors that also possess experience in design, construction, marketing and the tourist resort business to submit offers for the realization of construction of the Czech RepublicThe Ministry of State Property, invites all domestic and foreign, financially capable investors that also possess experience in design, construction, invites all domestic and foreign, financially capable investors that also possess experience in design, construction, marketing and the tourist resort business to submit offers for the realization of the construction of the Czech Villa Hospitality-Tourist Project located at sv. Juraj (St. George) in the Town of Vis.The lease agreement will be concluded for 50 years and the concession for the maritime construction for the purpose of construction and economic use will be granted for up to 50 years with a fee of 1.430.000,00 per year. Estimated total revenue is HRK 84.300.000,00 in the budget of the Republic of Croatia, with the construction of new catering and accommodation units of at least four stars. For the realization of this project, a deadline of 3 years from the date of the conclusion of the contract is foreseen.Deadline is 16 October 2017 at 23:59., All details of tender you can see herelast_img read more


Tag: 爱上海HZ

first_imgThere will be no public services, and burial will be at a later date in Florida. Memorial donations can be directed to the family, in care of the funeral home, to assist with expenses.  To sign the online guestbook, or to leave a personal condolence, please visit www.cookrosenberger.com.  Cook Rosenberger Funeral Home and its staff are honored to care for the family of James W. Nelson. James W. Nelson, of Sunman was born on June 13, 1957 in Greenville, North Carolina the son of James W., Sr. and Louise Ingram Nelson. He was a radiology technician. On February 4, 2016, at the age of 58, James passed away at VA Hospice in Cincinnati. Survivors include his mother, Louise Heflin of Florida; children, Chris (Courtney) Nelson, and Kim Jordan; granddaughter, Crystal Jordan, and fiancé, Kelly Pierson. He was preceded in death by his father, and wife, Sandra K. Nelson.last_img read more