P.R. Laws tit. 22, § 1072
The transformation and reform of our energy sector has been necessary to ensure the competitiveness and economic development of the Commonwealth of Puerto Rico. However, said reform had to be framed taking into account the Authority’s financial reality, and understanding that its finances, operations, and governance require an evaluation and subsequent transformation. Since our main goal is to maintain the Authority as an entity of the Commonwealth of Puerto Rico, we have entered into an integrated agreement with the creditors lenders thereof (Creditors” Agreement), the implementation of which requires the approval of this chapter. The main purpose of implementing these agreements is to benefit all customers with a just, reasonable, and transparent rate that shall, in turn, allow the Authority to meet its obligations and provide a world-class service in the medium- and the long-term. For such purposes, the Puerto Rico Electric Power Authority Revitalization Act is hereby approved.
History —Feb. 16, 2016, No. 4, § 2.