💧 Water and Power · U.S. Virgin Islands
WAPA said EY submitted assessment report to Virgin Islands government
Official document: https://www.viwapa.vi/docs/default-source/2023-pr/press-statement-(1.29.25)-wapa-supports-turnaround-efforts-awaits-assessment-report.pdf?sfvrsn=d3881a8c_3
The Virgin Islands Water and Power Authority said on January 29, 2025, that EY Turnaround Management Services LLC had submitted an assessment report on the utility’s financial and operational condition to the Virgin Islands government.
WAPA said the Public Finance Authority, acting on behalf of the government, hired EY in June 2024 under Act No. 8471 to prepare the review. The authority said the contract required EY to deliver the assessment within 120 days, including an evaluation of ongoing programs, plans, projects and organizational structure.
WAPA said it had cooperated with the review process and was awaiting a recommendations report that it said was expected within 60 days of January 29, 2025.
In the statement, Chief Executive Officer and Executive Director Karl Knight said the process underscored the authority’s fragile finances and the need to address priorities identified during the energy state of emergency declared in April 2024.