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Market
Sector Prioritized for Power Restoration in Puerto Rico by January 2, 2025?
2
Resolution / Starting Odds
Residential Areas • 25%
Commercial Areas • 25%
Critical Infrastructure (Hospitals, etc.) • 25%
Other • 25%
Outcome can be determined by official statements from Luma Energy or government directives.
Story
Puerto Rico: 1.3 Million Clients, 88% Without Power on New Year's Eve Due to Underground Line Failure
Dec 31, 2024, 12:54 PM
Puerto Rico experienced a widespread power outage on New Year's Eve, leaving nearly all of the island without electricity. The blackout affected approximately 1.3 million out of 1.47 million clients, with 88% of clients without power, according to Luma Energy, the company responsible for electricity transmission and distribution. The cause of the outage was a failure in an underground power line, as reported by Luma Energy. Efforts to restore power are underway, with the process expected to take between 24 to 28 hours. The power grid's fragility has been a persistent issue since Hurricane Maria devastated the island in 2017, leading to frequent outages.
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