Robert Mujica, executive director of Puerto Rico’s Financial Oversight and Management Board, said Tuesday afternoon that a group of creditors of the Puerto Rico Electric Power Authority (PREPA) flatly rejected the Board’s $3 billion offer to pay down the utility’s debt and end its bankruptcy. According to Mujica, the bondholders reaffirmed a $12 billion claim against PREPA—Puerto Rico’s sole electricity provider—based on pre-bankruptcy claims of roughly $8.5 billion plus interest accrued since 2017, an amount Mujica said far exceeds what the people of Puerto Rico can pay.
He noted the non-consenting bondholders did not submit a counteroffer.
In context — 787daily, from public data
0.1%of LUMA customers without power
37-day average 0.3% · worst 1.8%, Sep 30
LUMA's portal showed 0.1% of customers out at 6:48 AM AST on Oct 13, 2026. Across the 37 days 787daily has tracked it, the daily average is 0.3% and the worst was 1.8% on Sep 30, 2026.
Worst of LUMA's five full years, up from 26.3 hours the year before
Customers averaged 28.4 hours without power in the fiscal year that ended in June 2026, the worst of the five full years LUMA has run the grid and up from 26.3 hours the year before.
LUMA operates the transmission and distribution system.