Montana company settles dispute over Puerto Rico grid work

Markets Associated Press

A small Montana company that landed and lost a contract to restore Puerto Rico's hurricane-shattered electric grid reached a settlement in a dispute over money it said it was owed for the work, according to court documents.

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The settlement between Montana-based Whitefish Energy Holdings and Arc American of Indiana was confirmed by representatives of both companies on Wednesday. They declined to release details.

Whitefish sued Arc in federal court on Dec. 1 for allegedly interfering with payments from the Puerto Rico Electric Power Authority, which signed a $300 million contract with Whitefish after Hurricane Maria that was later cancelled.

Whitefish spokesman Ken Luce said the lawsuit was resolved "to the mutual satisfaction of all parties."

He says the final amount owed by the power authority must still be be determined.

Court documents showed that U.S. District Judge Dana Christensen dismissed the lawsuit Tuesday.

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Whitefish's contract was cancelled by Puerto Rico's governor amid concerns about overcharging and the company's ability to get power restored.

The company said Wednesday that it had completed its work in Puerto Rico with power restored to almost 66 percent of the island as of Nov. 30.