Puerto Rico consumers will see savings during August and September, when energy consumption is typically the highest of the year.
Bondholders, not residents, are primary concern of Puerto Rico regulators.
The system is currently expected to come online in 2024.
Puerto Rico’s grid plan would increase rates, cause debt default, and send rates soaring.
The Institute for Energy Economics and Financial Analysis (IEEFA) believes LUMA’s fiscal plan falls short.
Several projects are already underway, officials said.
In my view, it was more important for the governor to remain in the Spain trade mission as planned and properly represent Puerto Rico.
The Puerto Rico Electric Power Authority (PREPA) has selected health insurer MMM as its new provider, effective Jan. 1, 2022, the companies announced. MMM will offer services in partnership with First Medical, which represents “an unprecedented agreement” that will allow the public corporation’s retirees and employees to benefit from integrated medical care with innovative benefits. […]
In a letter to the Puerto Rico Legislature, Tom Sanzillo, director of Financial Analysis at the Institute for Energy Economics and Financial Analysis (IEEFA), urged the House and Senate to reevaluate the ongoing bidding process to privatize operations of the island’s power plants. “We have observed the flaws in the privatization processes of LUMA Energy and […]
The Puerto Rico Senate approved a resolution to order the Strategic Projects and Energy Committee to carry out an investigative process to identify alternatives to repay the Puerto Rico Electric Power Authority’s (PREPA) debt — which do not include solar taxes — and are in compliance with Act 17-2019, known as the Puerto Rico Energy […]
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 […]
The transformation and financial restructuring of Puerto Rico’s bankrupt electric power authority have generated more than $440 million in consulting contracts during the last seven years and could cost island residents more than $1 billion before completion, according to a study released by the Institute for Energy Economics and Financial Analysis. The IEEFA study found […]
Investing $9.6 billion in distributed solar panels and batteries — funds that are already available from the federal government — could transform Puerto Rico’s electrical system into a resilient grid that provides every home on the island with a clean, reliable source of energy, according to a report. The report by Puerto Rico organization Cambio […]
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 […]
The Puerto Rico Electric Power Authority announced the start of its Electric Grid Revitalization Program, using a $10.7 billion allocation from the Federal Emergency Management Agency (FEMA). Details of the 10-year infrastructure modernization plan, delivered and approved by FEMA in December to rebuild and bring the electrical system on the island up to standards and […]
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