Puerto Rico

IEEFA Research

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 →
ESTUDIO DE IEEFA ENCUENTRA INADECUADA LA REESTRUCTURACIÓN DEL ADEUDO DE EMPRESA DE ENERGÍA PUERTORRIQUEÑA; VE OPORTUNIDADES  PERDIDAS EN ENERGÍA EÓLICA, SOLAR Y EFICIENCIA ENERGÉTICA

ESTUDIO DE IEEFA ENCUENTRA INADECUADA LA REESTRUCTURACIÓN DEL ADEUDO DE EMPRESA DE ENERGÍA PUERTORRIQUEÑA; VE OPORTUNIDADES PERDIDAS EN ENERGÍA EÓLICA, SOLAR Y EFICIENCIA ENERGÉTICA

EN ESPERA PARA DAR A CONOCER 11 A.M., JUEVES, 10 de SEPT.

SAN JUAN, Puerto Rico (10 de Sept. de 2015) — The Institute for Energy Economics y Financial Analysis dio a conocer hoy un informe concluyendo que la Autoridad de Energía Eléctrica de Puerto Rico (AEEPR) es demasiado generosa con tenedores de bonos en su propuesta reestructuración de su adeudo y corta de vista en sus […]

September 10, 2015 Read More →

More News and Commentary

IEEFA Op-Ed: Wall Street’s War on Puerto Rico

IEEFA Op-Ed: Wall Street’s War on Puerto Rico

Bondholders Who Insist on Their Pound of Flesh Only Risk Further Losses

A commentary that appeared the other day in the Bond Buyer, the debt industry’s newspaper of record, is but the latest salvo in Wall Street’s misguided war on Puerto Rico. The column, by a representative of Spire Wealth Management, complained strenuously that Puerto Rico was only hurting itself by pressing for much-needed debt relief. Such […]

December 7, 2017 Read More →

IEEFA Update: The Many Risks in Rising Oil Prices

Prices at the Pump Will Go Up; Economic Fallout Will be Substantial; Oversupply Is a Possibility

OPEC member nations alongside other oil-producing countries yesterday announced the continuation of production cuts through 2018 in a move designed to keep prices rising. Last year, as the first wave of recent production cuts kicked in, oil prices were $45 a barrel. They have since risen 28 percent, to $58. While this upward trajectory is […]

December 1, 2017 Read More →

‘Marshall Plan’ for Puerto Rico Outlines Modernization Strategy for Shattered Grid

Washington Post: Sen. Bernie Sanders (I-Vt.) will unveil an ambitious $146 billion Puerto Rico recovery plan he says will allow renewable power sources such as solar and wind to provide about 70 percent of the island’s energy needs within the decade. The bill, which has the backing of San Juan Mayor Carmen Yulín Cruz, also […]

November 28, 2017 Read More →

IEEFA Puerto Rico: The Solar Industry Delivers in Response to Humanitarian Crisis

Ekotek, SunRun and Tesla, Among Others, Suggest a Path to Grid Modernization

As Thanksgiving arrives in Puerto Rico, families will gather for their traditional celebrations. But some things will be markedly different this year: for thousands of families, the locations of the get-togethers will be chosen on the basis of whoever has electricity in their home, since so many residences are still without power two months after […]

November 21, 2017 Read More →

IEEFA Update: Betrayal in Puerto Rico

A Pyrrhic Victory by the Governor Undermines the Island’s Recovery

There were no real winners in the decision this week by a federal judge to deny the appointment of a “chief transformation officer” to take over Puerto Rico’s bankrupt and mismanaged electric utility. The federal fiscal control board charged with overseeing Puerto Rico’s financial crisis had petitioned a federal judge to appoint Noel Zamot to […]

November 17, 2017 Read More →

Federal Judge Bars Appointment of Chief Transformation Officer for Beleaguered Puerto Rico Utility

Reuters: NEW YORK (Reuters) – A U.S. federal judge on Monday rejected a request to install a former military officer to oversee Puerto Rico’s beleaguered electric utility, PREPA, a victory for Governor Ricardo Rossello, whose government opposed the appointment. U.S. District Judge Laura Taylor Swain, ruling from the bench in New York, denied a motion […]

November 14, 2017 Read More →

IEEFA Puerto Rico: Input Is Being Sought Now on How to Strengthen Electricity System and Spur New Investment

Microgrids and Solar Energy Suggest a More Resilient Future; Cooperation Between Industry and Regulators Is Key

This is an important week in the recovery of Puerto Rico, where more than half the population of 3.5 million is still without electricity almost two months after Hurricane Maria. As part of its investigation into how the Puerto Rico Electric Power Authority (PREPA) has responded to Hurricane Maria, the Puerto Rico Energy Commission has […]

November 13, 2017 Read More →

‘Lots of Talk, Little Action’ on Puerto Rico Transition

E&E News: The shape of Puerto Rico’s future grid is confused, because no one yet has the authority to dictate what the future grid will look like. PREPA, the island utility, is conducting repairs, but it has few resources and is distrusted by officials in Washington. After Hurricane Maria hit, PREPA forsook aid from other […]

November 13, 2017 Read More →

Puerto Rico Bond Insurers in Lobbying and Litigation Campaign to Avoid Paying Claims

International Business Times: While still struggling to remedy widespread power outages and destruction wrought by Hurricane Maria, the Puerto Rican government is working to restructure its debt. Insurers of those debt bonds, on the other hand, are at risk of having to pay out billions, and potentially taking a hit to their bottom lines — […]

November 13, 2017 Read More →

Emerging Case for a Puerto Rico Solar Grid

Fast Company: The case for a shift to more renewables seems clear. Sunshine is more abundant in the Caribbean than in California or Spain. The amount of wind is competitive with states like Texas, which leads the U.S. in wind energy production. New renewable energy is affordable to build, and could help cut electric bills […]

November 8, 2017 Read More →