While Puerto Rico’s Senate has held up the bill to cancel the contract with Genera, PROMESA expert Rolando Emmanuelli said New Fortress continues to fail to comply with its contract. Emmanuelli warned that it is time to cancel the agreement because damages under New Fortress’s management are estimated at more than $100 million. "It is not complying and the tally of damages suffered by the Electric Power Authority runs into millions of dollars. How is New Fortress going to pay that if New Fortress has problems from having come out of a financial restructuring and has acknowledged that it has cash-flow problems? How are we going to collect that? So it is becoming a situation with no solution," the expert said.
The more time passes, the harder it is to resolve this problem.
He stressed: "The more time passes, the harder it is to resolve this problem. Therefore, this has to be cut at the root, this contract has to be canceled, the claims against New Fortress must continue, and I also think it is necessary to increase pressure on Genera so that it starts to provide adequate service under the circumstances."