Oversight board says it will help speed up projects to fix Puerto Rico's electric grid

FILE - People march along Las Americas Highway to protest the LUMA Energy company in San Juan, Puerto Rico, Oct. 15, 2021. (AP Photo/Carlos Giusti, File)

SAN JUAN, Puerto Rico (AP) — A federal control board that oversees Puerto Rico’s finances announced Wednesday that it will step in to help speed up projects to fix the island’s crumbling power grid as widespread outages persist.

Only $1.2 billion out of more than $17 billion authorized by U.S. Congress to stabilize the U.S. territory’s grid and improve reliability has been spent in the seven years since hit the island as a Category 4 storm, said Robert Mujica, the board’s executive director.

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