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 […]
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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, […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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Private consortium to take over PREPA’s T&D system in 15-year contract
June 23, 2020
The Puerto Rico Public Private Partnerships Authority announced that LUMA Energy, LLC — a consortium comprised by Canadian firm ATCO Ltd. (ATCO) and U.S.-based Fortune 500 firm Quanta Services Inc. — has been selected to operate, maintain and modernize the Puerto Rico Electric Power Authority’s electricity transmission and distribution for 15 years. The announcement follows […]
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