The controversial plan to erase Puerto Rico utility’s debt

An effort to erase billions of dollars of debt owed by the Puerto Rico Electric Power Authority, which runs the territory’s rickety power system, is facing pushback. POLITICO’s Gloria Gonzalez breaks down the details of the plan that could bring the utility out of bankruptcy, as well as the criticisms, and why restructuring the utility’s debt is so important to the island’s long-term grid stability. Plus, President Joe Biden is taking executive action to establish a Climate Corps.  For more news on energy and the environment, subscribe to Power Switch, our free evening newsletter: https://www.politico.com/power-switchAnd for even deeper coverage and analysis, read our Morning Energy newsletter by subscribing to POLITICO Pro: https://subscriber.politicopro.com/newsletter-archive/morning-energy Catherine Morehouse is an energy reporter for POLITICO and the host of the POLITICO Energy podcast.Nirmal Mulaikal is a POLITICO audio host-producer. Kara Tabor is an audio producer for POLITICO.Gloria Gonzalez is the deputy energy editor for POLITICO. Matt Daily is the energy editor for POLITICO.