Delays, damages, poor service: LUMA Energy’s first 2 months highlight privatization flaws
August 18, 2021
Failures and frustrations identified in the first two months of LUMA Energy’s operation of Puerto Rico’s energy grid highlight underlying flaws with the privatization contract, according to an analysis by the Institute for Energy Economics and Financial Analysis. Since the June 1 takeover, Puerto Rico residents “have experienced significant problems because of LUMA’s implementation of its electric […]
chat_bubble0 Comment
visibility2715 Views
Op-Ed: Puerto Rico’s electric grid suffers series of setbacks under LUMA Energy management
June 22, 2021
More than two weeks into its management of Puerto Rico’s electrical system, private contractor LUMA Energy is not off to a good start. Frequent power outages and service delays have tested the patience of an already over-burdened customer base since LUMA Energy took control of the island’s electric system in a privatization switchover on June […]
chat_bubble0 Comment
visibility2261 Views
LUMA confirms customer service contact information
June 1, 2021
LUMA, the private consortium that will begin operating the Puerto Rico Electric Power Authority’s (PREPA) transmission and distribution system, offered details about its customer service options for clients. As of today, LUMA will have multiple channels for customers to communicate with the company. The toll-free customer service hotline is 1.844.888.5862 (LUMA). Calls made to PREPA’s […]
chat_bubble2 Comments
visibility10214 Views
LUMA breaks ground on $10M training facility in Canóvanas
April 9, 2021
Company executives and government officials broke ground on the future LUMA College for Technical Training, a $10 million training facility being funded by LUMA parent companies ATCO and Quanta Services. Assessments, onboarding and workforce development are already underway at the LUMA College site, which will become fully operational in phases over the next few months […]
chat_bubble0 Comment
visibility2050 Views
Op-Ed: Contractor that promised savings set to exceed budget even before taking over
April 9, 2021
Puerto Rico’s key electrical system privatization initiative has been a long-shot to save money for the people of Puerto Rico — and the odds are getting longer, according to an analysis of the 15-year contract with LUMA Energy and its proposed budgets for the next three years. An Institute for Energy Economics and Financial Analysis […]
chat_bubble0 Comment
visibility2358 Views
Op-Ed: Electrical system contract winner selected based on identical scores, identical mistakes
April 8, 2021
An objective analysis of the award of a 15-year privatization contract for Puerto Rico’s electrical system to LUMA Energy raises numerous red flags about the integrity of the process. LUMA is scheduled to take over the non-generation functions of the Puerto Rico Electric Power Authority (PREPA) on June 1, including transmission, distribution, billing, customer service, […]
chat_bubble0 Comment
visibility2249 Views
LUMA Energy will not increase energy rates through ’24
February 22, 2021
LUMA Energy, the company that will operate Puerto Rico Electric Power Authority’s electric power transmission and distribution system for the next 15 years, vowed not to increase rates during the first three years after it officially begins operating on June 1, 2021. In a presentation to members of the media, LUMA CEO Wayne Stensby confirmed […]
chat_bubble0 Comment
visibility3172 Views
LUMA attorneys charge $1K+ an hour and consultants get paid nearly $5M to write plans
February 3, 2021
By Eliván Martínez MercadoCenter for Investigative Journalism Hiring a law firm that charges up to $1,245 per hour. The outsourcing of foreign companies such as Alumbra, from Colorado, which has billed as much as $1.3 million in a single month for plans to transform the energy system without having gone through a competitive process. This […]
chat_bubble0 Comment
visibility2937 Views
Puerto Rico’s electricity grid ranks last in utility performance survey
February 1, 2021
The Puerto Rico Electric Power Authority recently took last place in a survey conducted by J.D. Power that ranks 144 utilities based on six criteria that include power quality and reliability, price, customer care and communication. PREPA’s score was almost 50% lower than the average utility, 47% worse than the second worst comparable utility and […]
chat_bubble0 Comment
visibility7281 Views
Pierluisi creates steering committee to oversee LUMA Energy contract
January 14, 2021
Gov. Pedro Pierluisi announced the creation of a steering committee to oversee the Public Private Partnership contract to run the Puerto Rico Electric Power Authority’s transmission and distribution granted to LUMA Energy. The steering committee was established in response to Executive Order 2021-012, which calls for overseeing and ensuring that the enactment of the contract […]
chat_bubble0 Comment
visibility2291 Views
Op-Ed: Credit support for PREPA ‒ a sensible tool or another wasteful gimmick?
January 6, 2021
The week before Christmas, the Financial Oversight and Management Board for Puerto Rico (FOMB) quietly announced a plan for the Commonwealth’s government to loan almost $1 billion to the Puerto Rico Electric Power Authority (PREPA) to facilitate the privatization of the island’s transmission and distribution system. This plan was presented in a poorly documented filing […]
chat_bubble0 Comment
visibility4027 Views
Bankruptcy judge OK’s LUMA Energy contract to manage PREPA’s T&D system
October 20, 2020
U.S. District Court Judge Laura Taylor Swain approved the contract between the Puerto Rico Electric Power Authority and LUMA Energy, determining it can be considered as an administrative expense for the power utility. The decision followed section 503 of the U.S. Bankruptcy Code, under which PREPA is covered. LUMA will charge PREPA some $60 million […]
chat_bubble0 Comment
visibility2936 Views
LUMA Energy deal to manage Puerto Rico power grid bodes trouble
October 13, 2020
A major contract signed with the LUMA Energy consortium may prevent Puerto Rico from building a safe, reliable and resilient electrical system, according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The deal to operate the island’s grid came in the wake of a series of devastating 2017 hurricanes and amounts […]
chat_bubble0 Comment
visibility2256 Views
LUMA Energy CEO offers insights on P3 deal to run PREPA’s grid
July 29, 2020
It has been a little more than a month since the Puerto Rico Public-Private Partnership Authority announced that LUMA Energy had been chosen to operate, maintain and modernize the Puerto Rico Electric Power Authority’s electricity transmission and distribution system for the next 15 years. Since then, there has been much talk from different sectors in […]
chat_bubble0 Comment
visibility2835 Views
LUMA Energy to launch Technical Training College in Puerto Rico
July 15, 2020
LUMA Energy, the consortium recently chosen to run the Puerto Rico Electric Power Authority’s transmission and distribution grid, announced the start of construction of its of Technical Training College to offer “customized curriculum and hands-on training to its utility workers and the next generation of Puerto Rico’s skilled workforce.” The LUMA training facility will be […]
chat_bubble6 Comments
visibility5341 Views
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA