Type to search

Featured General Biz News

PRMA urges call for extraordinary legislative session to approve energy regulatory framework

The Puerto Rico Manufacturers Association stressed the need for an extraordinary session so the House of Representatives can approve the new energy regulatory framework under Act 120 of 2018, previously approved by the Senate.

“We urge Gov. Ricardo Rosselló to convene an extraordinary session of the Legislature, including as part of its agenda, Senate Bill 1121, which proposes a new energy regulatory framework to govern the transfer of the Puerto Rico Electric Power Authority’s assets and concessions and to include other public policy criteria that allow transforming, modernizing and streamlining our electrical system,” said PRMA President Rodrigo Masses.

Masses stressed that Senate Bill 1121 is the result of an “intense and highly participatory” legislative process, led by Sens. Larry Seilhamer and Eduardo Bhatia in which “there was broad and effective participation of different business, professional, labor and civic sectors, and governmental organizations.”

“Puerto Rico deserves to have already adopted the regulatory framework which outlines and guides the entire process of transferring assets from PREPA, to have the certainty, trust and assurance that this process will respond the best public interest to achieve a system that is efficient, safe, stable and responsive to the needs and challenges of different residential, industrial, commercial sectors and the general public,” he said.

“Waiting for the next regular session, seems inappropriate given that Act 120 would allow the transfers of assets under the state of current law, which does not provide the standards, criteria and robust and appropriate regulatory framework so that the process promotes the economic development that Puerto Rico deserves and demands,” said Masses.

The executive said there is a commitment from several House members to address the mesure in a with a sense of urgency if an extraordinary session were convened.

“We hope that the governor can give favorable consideration to this recommendation, and under the leadership of José Ortiz at PREPA, the transformation of the power system can be set into motion, based on an advanced regulatory framework that was developed in an exemplary manner by the Legislative Assembly,” Masses concluded.

Author Details
Author Details
This story was written by our staff based on a press release.

Leave a Comment

Your email address will not be published. Required fields are marked *