The law that Puerto Rico enacted last month to privatize the Puerto Rico Electric Power Authority has many flaws, including labor protections that are too weak, an unnecessary restructuring of the Puerto Rico Energy Commission and a lack of commitment to strong energy planning, the Institute for Energy Economics and Financial Analysis affirmed.
In a letter to Gov. Ricardo Rosselló and the Chairman of the Financial Oversight and Management Board for Puerto Rico, two Congressional lawmakers called for the protection of the Puerto Rico Energy Commission from efforts to weaken or undermine its jurisdiction by consolidating it with other agencies or by privatizing the Puerto Rico Electric Power Authority and exempting PREPA from PREC’s supervision.
The Private Sector Coalition expressed its opposition to Reorganization Plan No. 8, which proposes creating the Puerto Rico Public Service Regulatory Board. and urged lawmakers to block the plan.
Aware of the need to quickly and effectively restore Puerto Rico’s electrical service and simultaneously ensure its sustainable long-term development, the Puerto Rico Energy Commission has drafted the first regulation on the development of microgrids on the island.
The Puerto Rico Energy Commission on Tuesday issued an order establishing a reduction of 21 percent on the provisional rate that the Puerto Rico Electric Power Authority effected in August 2016.
The Puerto Rico Electric Power Authority (PREPA) announced Tuesday it will immediately proceed with the implementation of the Integrated Resource Plan, as modified by the Puerto Rico Energy Commission (PREC), which adopted key elements of its $2.4 billion capital investment plan.
Puerto Rico’s private sector, represented by more than 20 organizations, on Thursday banded together to reject the proposed energy rate increases unveiled by the Puerto Rico Electric Power Authority this week.
The Puerto Rico Energy Commission issued a resolution Thursday denying a petition by the National Public Finance Guarantee Corp., which insures $1.4 billion in Puerto Rico Electric Authority bonds, for a rate review and establishment of a temporary rate increase of at least 4.2¢ per kilowatt-hour.
A year ago, as Puerto Rico welcomed the signing of the Energy Transformation and Relief Act of Puerto Rico (Act 57-2014), I shared my sentiment of great enthusiasm with friends, by quoting the extraordinary anthem of the Beatles 1968 “Revolution.”
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