Puerto Rico

IEEFA Research

IEEFA Report: Privatizing Puerto Rico’s Electric Company Would Be an Impediment to Modernization  

Plan Would Hurt Ratepayers and Undermine a U.S. Commonwealth’s Entire Economy

Link to Spanish-language press release April 13, 2018 (IEEFA)— The Legislative Assembly of Puerto Rico would be acting in the public’s best interest by blocking a proposed privatization of the Puerto Rico Electric Power Authority, a new report by the Institute for Energy Economics and Financial Analysis concludes. The report — “Privatization Bill Will Not […]

April 13, 2018 Read More →

IEEFA Report: Puerto Rico Can Get 40% of Its Electricity From Renewables by 2028

Transition Will Require Modernization of Generation, Transmission, and Distribution as Well as Strong Regulatory Oversight

March 1, 2018 (IEEFA) — The Institute for Energy Economics and Financial Analysis published a report today describing how Puerto Rico can get 40 percent of its electricity from renewable resources by 2028. The report, published with the Puerto Rico Institute of Competitiveness and Sustainable Economy (ICSE-PR), sees the U.S. commonwealth relying on renewables for 50 percent […]

IEEFA Update: Puerto Rico Is at an Urgent Energy-Policy Crossroads Now

Progress Requires Debt Elimination, Greater Reliance on Microgrids and Renewable Energy, Appointment of an Independent PREPA Administrator

OCT. 24, 2017 (IEEFA) — The Institute for Energy Economics and Financial Analysis (IEEFA) today posted a webinar and data presentation calling for responsible electricity-grid modernization in Puerto Rico and emphasizing the importance of establishing appropriate policy now. The presentation, (download the slide show here) by IEEFA energy consultants Cathy Kunkel and Anna Sommers, follows […]

October 24, 2017 Read More →

IEEFA Puerto Rico: The Aguirre Offshore Gas Port Is Unbankable

PREPA Has No Viable Plan to Finance a $380 Million Project, Leaving Ratepayers to Absorb the Costs

At the heart of the Puerto Rico Electric Power Authority’s flawed plan to upgrade the island’s crumbling electricity system lies a proposed $380 million facility to bring imported liquefied natural gas into the commonwealth. PREPA, as the authority is known, has been promoting the project for years, even though it would mean a perpetuation of […]

IEEFA Puerto Rico: The PREPA Restructuring Plan Before Congress Is Not Realistic and Does Not Hold All Players Accountable

IEEFA Puerto Rico: The PREPA Restructuring Plan Before Congress Is Not Realistic and Does Not Hold All Players Accountable

Bondholders and Dealmakers Are Not Stepping Up; Citizen Ratepayers and Taxpayers Are Left Holding the Bag Under Proposal Before Congress

Puerto Rico’s electricity-system imbroglio is in the public eye today in Washington, where a house subcommittee is holding a public hearing on a plan to restructure the Puerto Rico Electric Power Authority’s staggering $9.5 billion debt. We’ve written a letter to the subcommittee chairman, Rep. Doug LaMalfa, detailing how the debt restructuring plan sells Puerto Rico […]

March 22, 2017 Read More →

IEEFA Puerto Rico: How to Play Hardball With Bondholders

Lessons for PREPA on Placing Customers (and the Economy) Ahead of Creditors

How much of its more than $8 billion in debt can the essentially bankrupt Puerto Rico Electric Power Authority pay back? A federal oversight board appointed four months ago to supervise debt restructuring for the entire Puerto Rican government offered up an indication last week. The board, empaneled in October under the auspices of the […]

January 24, 2017 Read More →

IEEFA Report: Debt Restructuring Deal for Puerto Rico Power Authority Will Not Restore Agency to Financial Health

Flaws Will Result in High Electricity Rates, Burden an Already Ailing Economy, and Prevent the Development of Renewables

CLEVELAND, Aug. 4, 2016 (IEEFA.org) — The Institute for Energy Economics and Financial Analysis published a report today warning of serious flaws in a debt restructuring deal for the Puerto Rico Electric Power Authority (PREPA). The analysis, by IEEFA’s director of finance, Tom Sanzillo, and Cathy Kunkel, an IEEFA energy analyst, concludes that the restructuring […]

August 4, 2016 Read More →

IEEFA Questions PREPA’s ‘Misguided’ Electric Plan for Puerto Rico; Notes High Risks and Costs; Sees Perpetuation of Import Addiction

Call for Energy Independence in U.S. Commonwealth

‘Extraordinarily Short Shrift to the Potential for Renewable-Energy Development and for Energy-Efficiency Improvements’ CLEVELAND, May 2, 2016 (IEEFA) — The Institute for Energy Economics and Financial Analysis has filed public comments recommending that the Puerto Rico Electric Commission reject the Puerto Rico Electric Power Authority’s plan to rebuild the island’s electricity system. The comments, which […]

May 3, 2016 Read More →
Coal Won’t Solve the Energy Poverty Problem

Coal Won’t Solve the Energy Poverty Problem

Times Have Changed; Old Electricity-Generation Models Don’t Work Anymore

Coal-fired electricity is no longer the economy builder its proponents say it is. Time was when coal in fact did contribute to growth in many economies, but times have changed. Today governments and private interests worldwide concede—even emphasize—the economic and environmental dysfunction of coal. We’ve just published an IEEFA Briefing Note (“Energy Poverty, Then and […]

March 3, 2016 Read More →
A U.S. Commonwealth Shortchanged in Its Utility Company’s Debt-Restructuring Deal

A U.S. Commonwealth Shortchanged in Its Utility Company’s Debt-Restructuring Deal

Puerto Rico Is Overlooking a Rare Opportunity to Seal More Favorable Terms and Pursue a Better Energy Policy

We’ve published a report today that shows how Puerto Rico is at risk of missing an important opportunity in its energy-development history and an important opportunity at a fair restructuring of the debt of its public power company. It’s the first independent assessment of a proposed deal between the Puerto Rico Power Authority (PREPA) and […]

and September 10, 2015 Read More →

More News and Commentary

Privatization of Puerto Rico Electricity Company Would Leave Island Vulnerable to More Outages

El Observador: A new report shows little is being done to make the island’s electrical grid reliable and sustainable. The study’s author, Cathy Kunkel, an energy analyst with the Institute for Energy Economics and Financial Analysis, said the Puerto Rico Electric Power Authority isn’t addressing its long-term problems: corruption, debt, falling demand and older power […]

April 23, 2018 Read More →

Informe IEEFA: Privatizar la Compañía Eléctrica de Puerto Rico Impedirá la Modernización

El Plan Hace Daño a Contribuyentes y Socava por Completo la Economía del Territorio de Estados Unidos

13 de abril de (IEEFA)— La Asamblea Legislativa de Puerto Rico estaría actuando en el mejor interés público bloqueando la propuesta privatización de la Autoridad de Energía Eléctrica, concluyó un reciente informe del Instituto para Economías Energéticas y Análisis Financiero (IEEFA, por sus siglas en inglés). El informe – “El proyecto de privatización no resolverá […]

April 13, 2018 Read More →

IEEFA Report: Privatizing Puerto Rico’s Electric Company Would Be an Impediment to Modernization  

Plan Would Hurt Ratepayers and Undermine a U.S. Commonwealth’s Entire Economy

Link to Spanish-language press release April 13, 2018 (IEEFA)— The Legislative Assembly of Puerto Rico would be acting in the public’s best interest by blocking a proposed privatization of the Puerto Rico Electric Power Authority, a new report by the Institute for Energy Economics and Financial Analysis concludes. The report — “Privatization Bill Will Not […]

April 13, 2018 Read More →

Commentary: Puerto Rico’s Utility Privatization Lacks Public Transparency

Debtwire: Puerto Rico is nearing a massive sale: none other than the Puerto Rico Electric Power Authority (PREPA), the commonwealth’s sole power provider and most valuable public asset. Much like his father, who privatized several government agencies back in his day, Governor Ricardo Rosselló wants to entrust power generation to the private sector with the […]

April 4, 2018 Read More →

IEEFA Op-Ed: Now Is Not the Time to Roll Back Oversight of Puerto Rico’s Power Company

A Looming Threat to Independent Regulatory Oversight

Members of Congress have rightly expressed concern over Puerto Rico Gov. Ricardo Rosselló’s incessant campaign to steamroll the Puerto Rico Energy Commission, the progressive regulatory body that is seeking responsible modernization of the island’s backward electricity system. Just last week, the Puerto Rico Senate approved a bill that contains the governor’s most recent plan to […]

March 21, 2018 Read More →

Congressional Investigation Into Corruption and Mismanagement at Puerto Rico Electric Power Authority

CNBC: Complicating the recovery efforts further have been recent allegations of rampant corruption and mismanagement in the power restoration process against Puerto Rico’s Electric Power Authority. The House Committee on Natural Resources announced last week that it is conducting an investigation into the allegations as part of its oversight process. “The latest allegations of corruption […]

March 21, 2018 Read More →
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IEEFA Op-Ed: Keeping Puerto Rico’s Electric Utility on a Short Leash Until It Proves Accountability

The Governor Should Step Aside Now and Let Proper Regulation Take Its Course

Power outages that swept the capital of San Juan last week serve as a sobering reminder of what Puerto Rico is up against as it struggles to rebuild its battered electricity grid. Almost 1 million people live in the area affected by the blackout, which is just the latest symptom of an electricity system in […]

IEEFA Report: Puerto Rico Can Get 40% of Its Electricity From Renewables by 2028

Transition Will Require Modernization of Generation, Transmission, and Distribution as Well as Strong Regulatory Oversight

March 1, 2018 (IEEFA) — The Institute for Energy Economics and Financial Analysis published a report today describing how Puerto Rico can get 40 percent of its electricity from renewable resources by 2028. The report, published with the Puerto Rico Institute of Competitiveness and Sustainable Economy (ICSE-PR), sees the U.S. commonwealth relying on renewables for 50 percent […]

and

IEEFA Update: Status-Quo Politics Imperil Public Confidence in Puerto Rico Grid Rebuild

Ill-Advised Efforts to Undermine Island's Key Electricity-Reform Regulator

While the reform-minded Puerto Rico Energy Commission has survived its latest assault by Gov. Ricardo Rosselló, the governor still seems bent on the commission’s destruction. Earlier this month, Rosselló sought to consolidate the energy commission with four other regulatory agencies and eliminate its independence by having all members serve strictly at his pleasure. Puerto Rico […]

and February 28, 2018 Read More →

Off-the-Grid Power Generation Takes Root in Puerto Rico

GreenTech Media: As the territory’s government looks to privatize its utility and haltingly moves forward on plans for a less-centralized grid powered by more renewables, interest in leaving the grid altogether has grown. In a Feb. 14 status report, PREPA reported that the utility had restored power to about 76 percent of customers. On Friday, […]

February 19, 2018 Read More →