Op-Ed: CNE reviews PREPA’s debt restructuring agreement, 3.0
May 24, 2019
The proposed Restructuring Support Agreement for the Puerto Rico Electric Power Authority is not a good transaction for Puerto Rico. Its terms and conditions are overly generous to creditors; it discourages the transition to distributed renewable generation; it is uncertain whether it provides the debt relief necessary to maintain PREPA as a going concern, while […]
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CAMBIO, IEEFA sue to get PREPA to release public documents and data
May 17, 2019
The Institute for Energy Economics and Financial Analysis and CAMBIO, a Puerto Rico-based environmental nonprofit organization, filed a mandamus action in San Juan Superior Court to obtain information about the Puerto Rico Electric Power Authority’s system and ongoing privatization process. “Very little information has been provided about the underlying studies or plans related to the […]
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Op-Ed: PREPA bond move — Creditors, politicians, enablers pursue deal but not a solution
April 25, 2019
A “business as usual” bond deal is about to be foisted upon Puerto Rico’s ratepayers and fledgling economy. It will result in a $400 million annual cash draw for at least the next 20 years. Think about wasting money on overpriced oil, political appointees and useless consultants over the last twenty years and then paying for […]
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Op-Ed: PREPA privatization will not create competitive market, will lead to more dysfunction
April 22, 2019
Creating a competitive free market for electricity in Puerto Rico was a recurring theme of the U.S. House Natural Resources Committee hearing held April 9th on the rebuilding and privatization of the Puerto Rico Electric Power Authority (PREPA). But the discussion of what a competitive electricity market would look like remained vague, along with details […]
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Op-Ed: PREPA’s 20-year plan conflicts, undermines long-term renewables goal
April 1, 2019
Last month, the Puerto Rico Electric Power Authority filed its long-anticipated integrated resource plan – a 20-year plan for the transformation of the island’s power generation system – with its regulator, the Puerto Rico Energy Bureau. In the plan, PREPA details various scenarios for the build-out of generation infrastructure and a five-year action plan of […]
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‘No clear path forward’ for PREPA restructuring, H. Calero Consulting says
March 7, 2019
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 […]
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New Fortress Energy signs contract to supply natural gas to PREPA
March 6, 2019
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 […]
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Op-Ed: PREPA privatization plan overlooks unionized workers as best asset
February 26, 2019
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. […]
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Op-Ed: Home solar and batteries, turning the world right side up
February 4, 2019
“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 […]
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IEEFA P.R.: New natural gas deal fits same old pattern for choosing contractors
January 25, 2019
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 […]
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P3 Authority confirms selection of 4 proponents for PREPA transformation
January 18, 2019
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 […]
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Op-Ed: PREPA keeps relying on expensive consultants, IEEFA says
December 26, 2018
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.
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Op-Ed: IEEFA Puerto Rico says massive liquefied natural gas project dead
December 4, 2018
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.
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P3 Authority opens call for RFQs to manage P.R.’s electric power system transformation
November 1, 2018
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.
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IEEFA: P.R. energy bill is ‘limp gesture’ toward true reform
October 29, 2018
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.
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