; Whereas, in 2019, the FOMB negotiated an agreement with bondholders that would have resulted in a 10- to 16-percent increase over current electric rates for the following 47 years; Whereas that agreement was ultimately rejected in 2022 by the local legislature and Governor of Puerto Rico, who recognized that the agreement was unaffordable and would impose costs that would undermine the recovery and future economic growth of Puerto Rico; Whereas, on December 16, 2022, the FOMB filed a new restructuring plan for the PREPA that proposes to reduce almost ½ of the debt of the PREPA and impose a legacy charge for consumers who do not benefit from subsidized electric rates; Whereas that plan was amended on February 9, 2023, advocating for the issuance of $5,700,000,000 in bonds, or $13,000,000,000 over 35 years with accrued interest, to partially compensate the creditors of the PREPA, including bondholders; Whereas the debt service on the new bonds will be paid off via the legacy charge , which includes both fixed monthly charges and charges that depend on the consumption of electricity; Whereas the estimated legacy charge for nonexempt, residential customers would, on average, be around $19 per month; Whereas the fixed charge would be between $16 and $1,800 per month for commercial and industrial customers; Whereas those charges represent an increase in monthly bills for average residents and small businesses of 12 to 13 percent, on top of rates that are already double the average price for electricity in the continental United States; Whereas, according to estimates by small business representatives in Puerto Rico, once the increases in energy bills under the current restructuring plan are enforced, nearly 12,000 small businesses would be forced to close, a number 3 times higher than in 2020, a year marked by the onset of the Coronavirus Disease 2019 (COVID–19) pandemic