The Puerto Rico Public-Private Partnerships Authority board recently decided to move forward with the evaluation of four new construction priority projects, namely the commuter train from Caguas to San Juan, a new women’s correctional facility, a new men’s correctional facility, and the conversion to natural gas of the Puerto Rico Electric Power Authority power plants in San Juan and Palo Seco, government officials said Wednesday.
The Puerto Rico government’s economic team presented four measures to shore up $280 million for the Highway Authority, which is deep in the hole with the Government Development Bank, to which it owes $2.1 billion.
Despite the existence of several adverse factors that affect the price of renewable energy production in Puerto Rico, the amount per kilowatt-hour is considerably lower today than what it costs the Puerto Rico Electric Power Authority to produce energy from fossil sources, the head of the Association of Renewable Energy Producers said Wednesday.
With the intention of promoting the development of alternative renewable energy sources, Gov. Alejandro García-Padilla signed three executive orders Tuesday that establish an orderly plan that will gradually replace Puerto Rico’s high dependence on fossil fuel energy sources and set the rules for the use of new energy alternatives for the island.
Faced with the constant demand by consumers wanting relief in soaring energy costs and the government's efforts to try to meet those expectations, the Association of Renewable Energy Producers went public Monday with a mission to help stabilize and reduce the price of energy in Puerto Rico.
Excelerate Energy and the Puerto Rico Electric Power Authority have filed their formal application with the Federal Energy Regulatory Commission, representing the latest step closer in the process of receiving approval to build and operate a floating offshore liquefied natural gas re-gasification facility off the southern coast of Puerto Rico.
Gestamp Wind Energy North America announced Monday the sale of the 23-megawatt Punta Lima wind farm outside Naguabo to Sovereign Bank, N.A., a subsidiary of Banco Santander.
Newspaper headlines and radio and TV news reports have become a definitive recipe for depression. As a matter of fact, I can’t watch the evening news unless I want to guarantee my usual insomnia. Furthermore, these articles and stories have made me realize that Puerto Rico has become “bizarre” country, an unforgiving “La-la land.”
The Puerto Rico Electric Power Authority needs to undergo profound changes to improve its fiscal situation and consumer services, something that could happen under the supervision of an external, independent regulatory board, members of the Center for a New Economy think tank said Tuesday.
The chain of rating downgrades affecting Puerto Rico’s credit added yet another link Monday, when Moody's Investors Service cut the rating on approximately $8.0 billion of outstanding power revenue bonds held by Puerto Rico Electric Power Authority's to Baa2 from Baa1.
The surprising paralysis of the certification of the representatives of the public interest in the Puerto Rico Electric Power Authority’s governing body is the most recent example of an arbitrary system that has taken power with impunity and that self-reproduces at the expense of the best interests of the people.
Gov. Luis Fortuño administration officials took Moody’s Investors Service’s decision to cut the Puerto Rico Electric Power Authority’s credit rating down a notch in stride Wednesday, saying it was “expected” and would not have an impact on the upcoming $475 million bond emission.
The Puerto Rico Electric Power Authority’s new residential rate that goes into effect today for the island’s residential customers is a temporary subsidy that does not imply efficiency improvements at the agency, the Center for the New Economy concluded Wednesday.
It seems as though everybody is looking for ways to drive down Puerto Rico’s mounting energy costs, which are strangling residential and commercial customers alike every month. On Monday, a large group of private sector representative came together to propose to the governor the creation of an independent body to find solutions in the short, medium and long term to deal with the problem.
The Puerto Rico Electric Power Authority generated more than $434.6 million in revenue from island residential and commercial consumers, who burned through more than 1.5 billion kilowatt-hours of energy in June, the start of the sweltering summer season.
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA