What does New Fortress Energy’s bankruptcy mean for Puerto Rico?

New Fortress Energy is unable to pay its debts and has entered into a restructuring agreement with some of its creditors.

“It is clear from this presentation that Genera [PR] will continue to act in the interest of its parent company in pushing greater quantities of gas on Puerto Rico, regardless of the best interests of Puerto Rico ratepayers.

The government of Puerto Rico may have an opportunity with NFE’s current financial restructuring to escape an onerous contract with a company that has not proved to be a good business partner for the island.”