Puerto Rico started October with a record-high electricity tariff of 33.86 cents per kilowatt hour. Three weeks prior, New Fortress Energy filed a document with the US Securities and Exchange Commission containing 44 documents, which revealed that the company distributed $27.1 million to three high-ranking executives. This information highlights the financial aspects of the privatization of Puerto Rico's energy sector, with New Fortress Energy being a key player.
The record-high electricity tariff and the significant amount distributed to executives have raised concerns about the impact of privatization on the island's economy and residents. The Comisión de Bolsa y Valores de Estados Unidos, or US Securities and Exchange Commission, received the filing from New Fortress Energy, which included the details about the executive compensation.