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SAN JUAN, Puerto Rico — The government of Puerto Rico is a step closer to privatizing power generation on the island despite widespread skepticism among consumers, who crave a reliable source of electricity after decades of random power outages. The contract needs to be approved by the governing board of the Puerto Rico Electric Power Authority and signed by Gov. Power generation units in Puerto Rico are on average about 45 years old, twice those of the U.S. mainland. The system was previously managed by the Puerto Rico Electric Power Authority. The privatization process follows ongoing issues around Puerto Rico Electric Power Authority's bankruptcy.

☆ Google will soon kill the cookie, and 2023 will be the year to show whether the technology invented to replace it can save the ad industry's revenue
▼ + stars: | 2022-12-22 | by ( Ryan Joe | ) www.businessinsider.com time to read: +7 min

The loss of the cookie and other ways to identify people online has caused ad revenue to crater. "Too soon to say, but the platforms don't like it," said David Temkin, a Google executive who focuses on ads privacy. "Clean rooms we think are promising because they can respect user privacy," Temkin said. He notes that clean rooms can be slow and expensive. The prevalence of retail media already jumpstarted the need for clean rooms in 2022, said Scott Howe, CEO of LiveRamp, which provides clean rooms and identifiers.

☆ From ads in video games, retail media, and cookieless tracking — experts predict these surging areas will drive ad industry M&A in 2023
▼ + stars: | 2022-12-20 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +8 min

Despite an economic downturn, experts predict there will be plenty of advertising M&A in 2023. While that could include some and firesales, deals are expected in hot areas like retail media and CTV. Insider spoke to more than a dozen industry experts who dished on the trends that will drive advertising M&A next year. Companies in hot areas like performance marketing, retail media and CTV will buy others to build out their offeringsPerformance marketing, retail media, and the growth of connected TV advertising have been among the hottest trends for advertising companies and agencies in recent years. Areas like retail media and ad-supported streaming are on fire.

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Luma Energy secured an extension on its temporary contract Wednesday following a 4-1 vote by the Puerto Rico Electric Power Authority’s board. Government officials promised Luma Energy and the partial privatization of the power grid would improve electric services. On other occasions, Luma Energy blamed outages on bad weather and sargassum, a type of seaweed. Still unresolved is the bankruptcy proceeding for the Puerto Rico Electric Power Authority, which owes nearly $9 billion, the largest debt of any government agency. As soon as a federal judge approves a debt restructuring plan for the power authority, Luma Energy's contract will become permanent for 15 years.

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☆ Elon Musk is threatening to 'thermonuclear name and shame' advertisers that press pause on Twitter. It's a dumb thing to do to your biggest customers.
▼ + stars: | 2022-11-07 | by ( Jake Swearingen | ) www.businessinsider.com time to read: +8 min

After advertisers paused spending, Musk went on the offensive, tweeting that advertisers were causing a "massive drop in revenue," He continued: "Extremely messed up! Per a Standard Media Index report, total advertising spending was down by 5% year-over-year in September. Other advertising giants like YouTube and Meta reported year-over-year declines in advertising revenue, with YouTube down by 2% and Meta down by 4%. Brand advertising relies highly on "brand safe" outlets where ads won't appear near objectionable content like violence, pornography, or hate speech. To replace the $40 million in lost monthly revenue, Twitter would need to sign up a little over 5 million Twitter Blue accounts paying $8 a month in its first month.

☆ Elon Musk threats to 'thermonuclear name and shame' companies that paused advertising on Twitter
▼ + stars: | 2022-11-05 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

On Friday, Elon Musk threatened a 'thermonuclear name and shame' against companies that paused advertising on Twitter. Before the takeover, Musk promised investors Twitter wouldn't become a "free-for-all hellscape" in a letter. Musk said a "thermonuclear name & shame" is coming to companies that have paused their advertising as they wait to see the direction Twitter takes under his new leadership. Before taking the helm of Twitter, Musk tweeted an open letter to advertisers promising the platform wouldn't become a "free-for-all hellscape." Companies including General Motors, Volkswagen, Audi, and Pfizer have all paused their advertising on Twitter, expressing concern over potential threats to brand safety and shifts to content moderation strategy.

☆ Five years after Hurricane Maria, Puerto Rico's power grid is still costly and unreliable
▼ + stars: | 2022-10-22 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

The state of Puerto Rico's power grid has been a sore spot for many island businesses and residents, leading to backlash against Luma Energy — the company brought in to operate and improve the grid after Hurricane Maria. Many businesses were forced to shut down for weeks after Hurricane Fiona hit. Luma Energy officially took over control of the island's power grid in June 2021 for the Puerto Rico Electric Power Authority, or PREPA. In July, about two months before Hurricane Fiona hit Puerto Rico, hundreds of residents marched to Gov. The company also said Oct. 10 that power had been restored to 99% of clients affected by Hurricane Fiona.

☆ Some 349,000 still without power in Puerto Rico after Fiona
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Sept 28 (Reuters) - An estimated 349,000 homes and businesses were still without power in Puerto Rico on Wednesday after Hurricane Fiona hit on Sept. 18, causing an island-wide power outage for its 3.3 million people. After hitting Puerto Rico and the Dominican Republic, Hurricane Fiona turned north and slammed into eastern Canada on Sept. 24, leaving over a third of Nova Scotia without power. Register now for FREE unlimited access to Reuters.com RegisterFiona hit Puerto Rico about five years after Hurricane Maria knocked out all power on the island. At that time the now bankrupt Puerto Rico Electric Power Authority (PREPA) was still operating the grid. Puerto Rico is restoring power to homes more quickly in the wake of Hurricane Fiona than after Hurricane Maria five years ago, when it took months before the island fully recovered.

Under no circumstances is it safe at this time, or responsible, to have anyone other than us touching the power lines." A child rides a scooter past downed electricity lines in Salinas, Puerto Rico, on Sept. 20. Many such former employees worked fixing power lines before Luma took over the island's electric transmission and distribution last year. In Villalba, the brigade dubbed "Villalba Power" started unhooking power lines tangled in ravaged trees. Hernandez said he is confident Puerto Rico will be fully energized in less than a month.

☆ About 746,000 still without power in Puerto Rico after Hurricane Fiona
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterCars drive under a downed power pole in the aftermath of Hurricane Fiona in Santa Isabel, Puerto Rico September 21, 2022. REUTERS/Ricardo Arduengo/File PhotoSept 26 (Reuters) - An estimated 746,000 homes and businesses were still without power in Puerto Rico on Monday morning after Hurricane Fiona caused an island-wide power outage for its roughly 3.3 million residents. Fiona, which was downgraded to a post-tropical cyclone by the U.S. National Hurricane Center on Saturday, battered Puerto Rico and other parts of the Caribbean a week ago, killing at least eight people. The storm reminded many Puerto Ricans of the devastation caused by Hurricane Maria five years ago, which knocked out power for almost all 1.5 million customers for a week. The widespread power outages have led to cascading energy problems for Puerto Rico, where fuel distribution limitations and surging demand for fuel to run backup generators has left many gas stations dry.

☆ Puerto Rican municipal workers pitch in as power outages persist
▼ + stars: | 2022-09-26 | by ( Ivelisse Rivera | ) www.reuters.com time to read: +4 min

Cars drive under a downed power pole in the aftermath of Hurricane Fiona in Santa Isabel, Puerto Rico September 21, 2022. She pointed to hurdles such as storm-damaged roads and factors beyond LUMA's control, such as the generation capacity of the Puerto Rico Electric Power Authority (PREPA). POWER CRUNCHThe widespread outages have led to a cascade of energy problems for Puerto Rico. Health officials in Puerto Rico attributed 12 deaths to the storm in Puerto Rico. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ivelisse Rivera in San Juan, Puerto Rico.

Workers with Luma Energy attempt to restore power on a flooded street in Cabo Rojo, Puerto Rico, on Sept. 24. Since the hurricane, fuel and diesel have become essential to daily life in Puerto Rico, mainly to power the generators. People play pool in a bar on Sept. 20, in Cabo Rojo, Puerto Rico. 'Puerto Rico is completely devastated'When asked what she would want to see from the federal response and from President Joe Biden, she said she wanted Biden to come to Puerto Rico and see the extent of the damage. A house that was washed away by Hurricane Fiona at Villa Esperanza in Salinas, Puerto Rico, on Sept. 21.

JAYUYA, Puerto Rico — When Hurricane Fiona completely knocked out power and water to the mountain town of Jayuya, in the heart of Puerto Rico, it quickly became a life-or-death matter for Luis De Jesús Ramos, who has throat cancer and a tracheostomy. Luis De Jesús Ramos, 63, and his daughter Ashly Pérez, 26, in their home in Jayuya, Puerto Rico. Members of the company LUMA work restoring energy on Sept. 20, 2022 in San Juan, Puerto Rico. The Direct Relief Puerto Rico team came to the neighborhood to bring 10 portable oxygen concentrators and other supplies to partners in the area. Edwin Quiles Martínez, 66, and his wife Graciela Pérez Alvarado, 73, in their home in Ponce, Puerto Rico.

☆ Some 928,000 still without power in Puerto Rico after Fiona
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

Cars drive under a downed power pole in the aftermath of Hurricane Fiona in Santa Isabel, Puerto Rico September 21, 2022. Fiona hit Puerto Rico on Sunday, five years after Hurricane Maria knocked out all power on the island. There were roughly 1.033 million customers without power early Thursday out of 1.468 million total customers, according to Poweroutages.com. At that time the now bankrupt Puerto Rico Electric Power Authority (PREPA) was still operating the grid. Maria hit Puerto Rico in 2017 as a Category 4 hurricane with winds of 155 mph, while Fiona hit as a Category 1 storm with winds of 85 mph.

People walk on a street affected by the passing of Hurricane Fiona in Penuelas, Puerto Rico September 19, 2022. Baxter, which makes small bags for intravenous medication, clinical nutrition products and inhaled anesthetics in Puerto Rico, said its facilities have "sustained little to no damage" from the storm. The company took a $70 million revenue hit after Hurricane Maria in 2017, spurring it to diversify manufacturing of key products. Drugmakers with plants in Puerto Rico said they have been able to keep up production and supplies as well. Johnson & Johnson (JNJ.N) said operations were restored at all its sites in Puerto Rico by Wednesday.

Cars drive under a downed power pole in the aftermath of Hurricane Fiona in Santa Isabel, Puerto Rico September 21, 2022. REUTERS/Ricardo Arduengo/File PhotoSAN JUAN, Puerto Rico, Sept 23 (Reuters) - Javier Rivera-Aquino is a lawyer who supplemented his income by raising bananas on a 17-acre plot of land in the mountains of west-central Puerto Rico until five years ago, when Hurricane Maria plowed into the island and swept away his plantation. For Rivera-Aquino, this week revived painful memories of 2017 as another powerful storm, Fiona, inflicted a fresh round of destruction on an island still struggling to recover from Maria. Rivera-Aquino knows too well the challenges now facing his neighbors around Lares, about 62 miles (100 km) southwest of San Juan, the capital city. While Cidra, about 31 miles (50 km) south of the capital, suffered multiple landslides in the wake of the catastrophic 2017 hurricane, Fiona has brought its own significant problems, he said.

People collect spring water from a mountain next to a highway in the aftermath of Hurricane Fiona in Cayey, Puerto Rico September 21, 2022. REUTERS/Ricardo ArduengoHAMILTON, Bermuda, Sept 22 (Reuters) - Bermudians boarded up windows and stocked up on groceries and flashlight batteries as Hurricane Fiona drew nearer on Thursday after causing several deaths and leaving many people sweltering without power in Puerto Rico and the Dominican Republic. "It could still jog east and hit Bermuda," said Eric Blake, acting branch chief for the hurricane center in Miami. The U.S. Federal Emergency Management Agency has so far attributed four deaths to the storm in Puerto Rico. read moreAn estimated 1 million homes and businesses remained without power in Puerto Rico on Thursday morning after Fiona hit on Sunday, causing an island-wide power outage for its roughly 3.3 million people.

☆ One million still without power in Puerto Rico after Fiona
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterCars drive under a downed power pole in the aftermath of Hurricane Fiona in Santa Isabel, Puerto Rico September 21, 2022. REUTERS/Ricardo Arduengo/File PhotoNEW YORK, Sept 22 (Reuters) - An estimated 1 million homes and businesses remain without power in Puerto Rico Thursday morning after Hurricane Fiona hit on Sunday, causing an island-wide power outage for its roughly 3.3 million people. There were roughly 1.168 million without power early Wednesday out of 1.468 million total customers, according to Poweroutages.com. That pace of restoration is much faster than after Maria when almost all 1.5 million customers had no power for a week when the now bankrupt Puerto Rico Electric Power Authority (PREPA) was still operating the grid. Maria hit Puerto Rico as a Category 4 hurricane with winds of 155 mph, while Fiona hit as a Category 1 storm with winds of 85 mph.

President Joe Biden has approved a major disaster declaration for Puerto Rico as it reels from Hurricane Fiona, Gov. The administrator of the Federal Emergency Management Agency, Deanne Criswell, began touring affected communities in Puerto Rico on Tuesday, conducting initial damage assessments to support the governor's request. A man on Tuesday collects donated water bottles for drinking after Hurricane Fiona damaged water supplies in Toa Baja, Puerto Rico. Hurricane Fiona is the first major hurricane to directly hit Puerto Rico since it was ravaged by Hurricane Maria five years ago. "With regard to Hurricane Maria, the people of Puerto Rico, we believe, were treated in a manner inconsistent with the mandate toward equality, fairness and impartiality," Yaki said.

☆ Hurricane Fiona strengthens to a Category 4 as it moves away from Turks and Caicos
▼ + stars: | 2022-09-21 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

The storm had maximum sustained winds of 130 mph and was moving north at 8 mph, according to the National Hurricane Center. The center of the storm is expected to continue to approach Bermuda late Thursday, according to the Hurricane Center. Long lines were reported at several gas stations across Puerto Rico, and some pulled off a main highway to collect water from a stream. The head of the Federal Emergency Management Agency traveled to Puerto Rico on Tuesday as the agency announced it was sending hundreds of additional personnel to boost local response efforts. In the Turks and Caicos Islands, officials reported minimal damage and no deaths despite the storm’s eye passing close to Grand Turk, the small British territory’s capital island, on Tuesday morning.

☆ Hurricane Fiona heads to Bermuda, up to eight dead in Puerto Rico
▼ + stars: | 2022-09-21 | by ( Ivelisse Rivera | ) www.reuters.com time to read: +3 min

A woman removes rubble from her destroyed house in the rural zone of Cuey, in the aftermath of Hurricane Fiona, in El Seibo, Dominican Republic, September 20, 2022. REUTERS/Ricardo RojasSAN JUAN, Puerto Rico, Sept 21 (Reuters) - Hurricane Fiona strengthened to a powerful Category 4 storm on Wednesday as it headed toward Bermuda after carving a destructive path through the Dominican Republic and Puerto Rico, where most were without power and up to eight people may have died. The U.S. Federal Emergency Management Agency has so far attributed four deaths to the storm in Puerto Rico. An estimated 1.2 million homes and businesses remained without power in Puerto Rico on Wednesday morning, according to Poweroutages.com. U.S. Health Secretary Xavier Becerra declared a public health emergency for Puerto Rico on Tuesday night, freeing up federal funds and equipment to assist the island.

☆ Hurricane Fiona heads to Bermuda, up to 8 dead in Puerto Rico
▼ + stars: | 2022-09-21 | by ( ) www.cnbc.com time to read: +4 min

People walk on a street affected by the passing of Hurricane Fiona in Penuelas, Puerto Rico September 19, 2022. After making landfall in Puerto Rico on Sunday, Fiona caused devastating flooding and landslides on the island. The U.S. Federal Emergency Management Agency has so far attributed four deaths to the storm in Puerto Rico. For many Puerto Rico residents, the memory of Hurricane Maria in 2017 is still fresh. "Bermuda residents are very well practiced in preparing for storms," she said.

☆ U.S. natgas jumps 4% on rising demand, renewed rail strike worries
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Nick OxfordSept 21 (Reuters) - U.S. natural gas futures jumped about 4% to a near one-week high on Wednesday, on forecasts for stronger U.S. gas demand this week than previously expected and renewed worries about a possible U.S. rail strike. A rail strike could boost demand for gas by threatening coal supplies to power plants. Gas prices rose despite expectations gas demand would decline next month when the Cove Point liquefied natural gas (LNG) plant in Maryland shuts for a couple weeks of maintenance in October. Global gas prices have soared due to supply disruptions and sanctions linked to Russia's Feb. 24 invasion of Ukraine. With the coming of cooler autumn weather, Refinitiv projected average U.S. gas demand, including exports, would slip from 92.3 bcfd this week to 89.8 bcfd next week.

Up to 29 inches of rain have fallen in Puerto Rico as a result of Hurricane Fiona, overflowing rivers and small streams. “More significant rains are expected, further increasing the risk of landslides,” Puerto Rico Gov. Oliver Lopez’s family is among the many Puerto Ricans still without power or water as a result of Hurricane Fiona. Four deaths have been reported in the wake of Hurricane Fiona. A woman clears debris on her property flooded by Hurricane Fiona in Salinas, Puerto Rico, on Monday.

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