June 26, 2018 Read More →

Concerns in the manufacturing sector

El Nuevo Dia:

The new law for the privatization of PREPA sends a “clearer” signal regarding the direction that Puerto Rico will take in energy-related matters, but “there is still much to do,” assured Pedro Nieves, co-president of the Energy Committee of the Puerto Rico Manufacturers Association.

According to Nieves, former head of the Environmental Quality Board, the bill recently signed into law provides clarity in the process that must be followed when transferring the power grid to private hands, establishes which entity leads the process – the Puerto Rico Public-Private Partnership Authority (P3) -, but above all, it establishes “clear guidelines” regarding the need to adopt public policy on the subject and transparency measures.

“The law establishes a process, it does not determine in advance any particular solution. In fact, it demands a fair balance of commercial interest and a sense of social responsibility,” added Nieves, noting that not all PREPA operations can be transferred through P3.

Last week, Governor Ricardo Rosselló Nevares announced that he had signed into law the bill to sell PREPA generating units and, in turn, identify private operators for other power grid operations, including the transmission and distribution network.

On Sunday, quoting a report from the Institute for Energy Economics and Financial Analysis (IEEFA), El Nuevo Día reported that although the statute allows the privatization of the generation and operation of the island´s energy systems, the document does not state the type of generation that  the island needs, neither how energy should be stored, transmitted and offered to households, businesses and industries.

Concerns in the manufacturing sector

Posted in: IEEFA In the News

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