Puerto Rico needs a successful long-term economic plan to achieve its goal of inexpensive energy, which calls for — among other things — an efficient and resilient Puerto Rico Electric Power Authority, San Juan-based analysis firm H. Calero Consulting concluded in its monthly internal bulletin. In “Pulse,” the firm also said while overhauling Puerto Rico’s […]
New Fortress Energy LLC announced that its Puerto Rico subsidiary, NFEnergía LLC, has entered into a contract with the Puerto Rico Electric Power Authority for the supply of natural gas and conversion of Units 5 and 6 of the San Juan Combined Cycle Power Plant. The initial term of the contract is five years, with […]
Puerto Rico’s Senate and House of Representatives are finalizing an energy policy bill that amends the existing privatization plan for the Puerto Rico Electric Power Authority. One of the remaining issues is whether to require future private utility owners to honor existing PREPA collective bargaining agreements with labor unions. The legislature should protect these agreements. […]
“In the eye of the hurricane there is quiet; for just a moment…” Lin-Manuel Miranda We all remember the aftermath of María: polluting and strident generators, scarce fuels and price speculation, unbreathable air and darkness; the longest blackout in US history. We lost thousands, the poorest and the elderly being the hardest hit. The world […]
Editor’s Note: The following is an analysis by Tom Sanzillo ([email protected]), IEEFA’s director of finance and Cathy Kunkel ([email protected]), an IEEFA energy analyst. It is being reprinted as it originally appeared in IEEFA’s website. The government of Puerto Rico is moving forward with plans to convert two units at the San Juan power plant from […]
The Puerto Rico Public Private Partnership Authority announced the selection of four proponents that have the necessary experience to manage and operate all aspects of the Puerto Rico Electric Power Authority’s electricity distribution and transmission system. P3 Authority Executive Director Omar Marrero confirmed the qualified proponents: Duke Energy Corporation; Exelon Corporation; PSEG Services Corporation; and […]
The Puerto Rico Electric Power Authority’s overreliance on outside advisors continues to undercut its ability to invest in the people needed in Puerto Rico.
Last week, Excelerate Energy, the company that planned to develop a natural gas import terminal in Puerto Rico, requested that the Federal Energy Regulatory withdraw its authorization for the project.
The P3 Authority and PREPA wish to enter into a public-private partnership with a private sector partner to deliver low-cost electricity to island customers.
The proposal is consistent with the Puerto Rico Electric Power Authority’s fiscal plan, which reduces the fossil fuel budget by $400 million to $500 million per year to bring the utility out of bankruptcy.
If the measure of success of a debt settlement is that it offers realistic payouts to bondholders while allowing the debtor the ability to emerge as a going concern, then it’s time to forget about this deal.
The report “Queremos Sol” (“We Want Sun”) outlines a power-system transformation that would place sustainability and self-sufficiency ahead of dependency on imported fossil fuels.
In the original lawsuit filed Feb. 24, 2015, the plaintiffs sought compensation for their estimated $1 billion losses in electricity overcharges.
The Institute for Energy Economics and Financial Analysis is urging the Financial Oversight and Management Board for Puerto Rico to halt the rush to natural gas infrastructure development in Puerto Rico.
Several of the island’s professional trade organizations expressed concern over the delay in the appointment of the consumer representative to the Puerto Rico Electric Power Authority’s board.
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