Congressman Serrano on Announcement that the PR Federal Oversight Board Will Appoint Chief Transformation Officer

Statement

Today, Congressman José E. Serrano released the following statement in response to the announcement made today that the Financial Oversight and Management Board for Puerto Rico will appoint a Chief Transformation Officer (CTO) to oversee the Puerto Rican Electric Power Authority (PREPA):

"A month after Hurricane Maria ravaged Puerto Rico and brought down the island's electrical system, most Puerto Ricans still don't have power. Clearly, drastic actions with regard to PREPA to restore the power grid on the island are necessary at this point. The steps taken by the Trump Administration to help the island are not encouraging. PREPA's actions since the Hurricane have not given confidence either that they are taking the most appropriate steps to change that situation. Its officials have admitted this themselves.

"Appointing a Chief Transformation Officer (CTO) for a short duration will help ensure that the power restoration process gets back on track, federal funds are being well spent, and that trust is restored with those who PREPA serves. The CTO will be able to work hand-in-hand with the Army Corps of Engineers and the U.S. Department of Energy.

"That said, it is important that any actions by the CTO are fully transparent and that this position is accountable to the public. The CTO should respect and follow Puerto Rico's laws limiting PREPA's powers, especially with regard to rate increases, and must honor collective bargaining agreements with the authority's employees. The Puerto Rican people -- including the thousands of agency employees who will be impacted during what is already a difficult time -- deserve transparency and accountability throughout this process, regardless of who oversees the agency."

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