- 11 August 2016
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Puerto Rico’s Electric Power Authority is reviewing its contract with AlixPartners, which currently exceeds $38 million, as part of the EPA’s restructuring and cost-cutting procedures, Primera Hora reported 3 August.
“On 15 August, the Governing Board will conduct a careful analysis on the scope of the work done so far by the company,” Chairman of the Board of Governors Harry Rodriguez said.
AlixPartners has led the restructuring, and has so far done a satisfactory job, Rodriguez said. It has also been in charge of negotiations with the company’s creditors.
The authority had been considering whether to extend AlixPartners’ contract by another five months, for a little less than $9 million. The ESA is required to explain to Puerto Rico’s Energy Commission in 15 days why it has not yet delivered the Independent Bureau of Consumer Protection that the Board of Directors asked for last year.
Ignoring these requests is in violation of the law, ICPO Director Jose Perez said.
Meanwhile, local union heads blamed recent blackouts on the intentional dismantling of the power authority, according to Primera Hora.