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prima:The Financial Oversight and Management Board defends its handling of the Power Expectations contract

The agency lashes out at PREPA bondholders and claims that they are using the controversial contract as a pretext to secure full payment of the debt

October 7, 2026 - 12:01 AM

The FOMB stated that, from the start of the bidding process for the controversial contract, the entity had “serious concerns” regarding the contract. (Carlos Rivera Giusti/GFR Media)

The Financial Oversight and Management Board (FOMB) noted on Tuesday that before endorsing the contract with Power Expectations, the agency advocated for multiple changes to protect Puerto Rico’s interests, and once it decided to revoke its endorsement of the agreement, it was the government that opposed its termination.

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