In Puerto Rico, private company takes over power utility service

Luma Energy inherits unresolved blackouts, with more than 30,000 customers left without power in recent weeks. Hurricane Maria destroyed most of the power grid in 2017.

However, Stensby said the company, which will serve all of the island’s roughly 1.5 million clients, has enough resources to handle a Category 2 hurricane and can bring in more equipment and workers if a stronger storm hits. Meanwhile, the new company will inherit unresolved blackouts, with more than 30,000 customers left without power in recent weeks.

“We’ve had a bankrupt ... incompetent public utility for too long,” he said. “The transformation that is underway will make a difference.”

Hope it all works out well for Puerto Rico.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

CNN ramps up streaming push as Discovery merger loomsCNN’s plans for a new streaming service are coming into focus as the cable network’s parent company prepares to merge with Discovery Inc.
Source: MarketWatch - 🏆 3. / 97 Read more »

Weatherford International to Relist on Nasdaq as Oil Industry RecoversShares of Weatherford, once the world’s fourth-largest oil-field services company before being felled by an oil bust, are set to be relisted on the Nasdaq stock exchange
Source: WSJ - 🏆 98. / 63 Read more »