In this Wednesday, July 29, 2015, photo, a bronze statue of San Juan Bautista stands in front of Puerto Rico’s Capitol as U.S. and Puerto Rican flags fly in San Juan, Puerto Rico. (AP Photo/Ricardo Arduengo, File)
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Puerto Rico's heavily indebted electric company announced Tuesday that it is seeking a more than 20 percent increase in the island's already high power bills, sparking outrage among many.Commercial and industrial businesses would face a 4 to 5 percent increase followed by a 22 to 24 percent permanent increase depending on the size of the company.Quintana called the proposed increases "reasonable" and warned that Puerto Ricans could have been hit with a nearly 70 percent increase if the company had not taken other steps to save money and generate more revenue.As it is, the Electric Power Authority will miss a $420 million interest payment due in July.
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