Statistics Institute promotes greater electricity transparency

Written by  //  July 23, 2013  //  General Biz News  //  No comments

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An important aspect of Puerto Rico’s electricity supply is that it is produced from petroleum, natural gas and coal, which are subject to volatile market changes. (Credit: © Mauricio Pascual)

An important aspect of Puerto Rico’s electricity supply is that it is produced from petroleum, natural gas and coal, which are subject to volatile market changes. (Credit: © Mauricio Pascual)

The Puerto Rico Statistics Institute has requested the island’s inclusion in a monthly survey published by the U.S. Energy Information Administration that will allow more timely access to the evolution of Puerto Rico’s energy system, agency Executive Director Mario Marazzi said.

The U.S. Energy Information Administration performs several annual and monthly surveys of companies and organizations working in the energy industry in the United States, including the power sector.

However, in Puerto Rico, the stateside organization conducts an annual survey, but the island does not participate in the electricity sector’s monthly surveys, which allows picking up on short-term changes in consumption and price paid locally for electricity.

An important aspect of Puerto Rico’s electricity supply is that it is produced from petroleum, natural gas and coal. As a result, the market is subject to significant volatile changes that may occur in world prices of raw materials for these energy sources. As a result, frequent and timely data are essential to monitor conditions in the Puerto Rico’s electricity market, he said.

It is important to include the island’s electrical system statistics in these monthly surveys, since among other things, it will allow evaluating sales, consumption and prices more frequently, he said.

“In a globalized world where our economic reality may be impacted by events occurring across the world, Puerto Rico requires full transparency and the greatest opportunity possible with the information about a service that is essential to human activity on the island,” Marazzi said.

In the coming months, the federal government will evaluate this possibility as part of the triennial review of its electricity sector surveys. As part of this assessment, the U.S. Energy Information Administration will need to consult businesses and organizations working in Puerto Rico’s power sector, he said.

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