Puerto Rico's Long Struggle to Keep the Lights On - The Journal. - WSJ Podcasts

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Puerto Rico's Long Struggle to Keep the Lights On - The Journal. - WSJ Podcasts
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🎧 Listen: In today's episode of The Journal podcast, AndrewScurria explains why the company brought in to fix Puerto Rico's power grid hasn't made much progress as residents continue to face blackouts

This transcript was prepared by a transcription service. This version may not be in its final form and may be updated.Speaker 2: The island reeling after a direct hit from Hurricane Fiona.Speaker 4: The entire island archipelago of Puerto Rico is without electricity.Ryan Knutson: As of this morning, most of the island still doesn't have power.Ryan Knutson: That's our colleague, Andrew Scurria.

Ryan Knutson: Welcome to The Journal, our show about money, business and power. I'm Ryan Knutson. It's Wednesday, September 21st. Coming up on the show, Puerto Rico's struggling power grid and the company that was supposed to fix it. The power system in Puerto Rico is notoriously undependable. Andrew Scurria: It became infected with political influence and became a source of cronyism and mismanagement. And as a result of those problems, it skimped on a lot of investments over the years, simple things like vegetation management and maintenance of power lines, but also bigger shinier investments like refurbishing power grids and kind of keeping up with state-of-the-art technology.Andrew Scurria: Cutting back trees, which is kind of a big deal on a tropical island.

Speaker 8: Devastation in Puerto Rico. Hurricane Maria caused widespread destruction, knocking out electricity to the entire island.Speaker 10: Nearly a week after Hurricane Maria ravaged Puerto Rico, most people don't have enough food or drinking water, and few have electricity. Ryan Knutson: What was the logic behind this sort of deal? How was this arrangement supposed to help fix the power problems that Puerto Rico had been having?

Ryan Knutson: According to a Puerto Rico based think tank, a key metric of reliability shows no improvement in the first six months of this year. Did people's lives in Puerto Rico get better in any way? Did Luma bring any changes that have been positive?

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