Author Archive: Tom Sanzillo

Director of Financial Analysis Tom Sanzillo has 30 years of experience in public and private finance, including as a first deputy comptroller of New York State, where he held oversight over a $156 billion pension fund and $200 billion in municipal bond programs.

IEEFA U.S.: Biden administration has historic opportunity to rebuild Puerto Rico electricity grid

Campaign promises of ‘low-cost, reliable and clean electricity’ must be kept

January 27, 2021 (IEEFA) — The devastation caused by Hurricane Maria in 2017 highlighted Puerto Rico’s “antiquated, expensive and fossil fuel-dependent” electricity grid, providing the Biden administration with an historic opportunity to transform a vital part of the island’s economy. The Institute for Energy Economics and Financial Analysis (IEEFA) recommends in a new policy brief […]

Alerta de noticias: IEEFA pide a FEMA rechazar financiamiento de nuevas plantas de gas natural en Puerto Rico

Plan de infraestructura a 10 años de AEE contradice las órdenes de regulación energética de Puerto Rico

26 de enero de 2021 (IEEFA) – El Negociado de Energía de Puerto Rico emitió el lunes una orden  que reprendió firmemente a la Autoridad de Energía Eléctrica de Puerto Rico (AEE) por intentar avanzar con nuevos proyectos, incluyendo una planta de gas natural de 400 megavatios (MW) y 330 MW de unidades de energía […]

News alert: IEEFA calls on FEMA to reject funding new natural gas plants in Puerto Rico

PREPA’s 10-year infrastructure plan contradicts orders of Puerto Rico’s energy regulator

January 26, 2021 (IEEFA) – On Monday, the Puerto Rico Energy Bureau issued an order firmly rebuking the Puerto Rico Electric Power Authority (PREPA) for attempting to move forward with new projects – including a 400 megawatt (MW) natural gas plant and 330 MW of smaller natural gas peaking units. In August 2020, the Bureau had […]

IEEFA: ExxonMobil must change direction to thrive

For oil majors, rising prices no longer guarantee financial success

By virtually every measure, the global oil and gas industry had a dreadful 2020. Demand slumped; prices sagged; stockpiles swelled; profits evaporated; and, for the fifth time in seven years, the energy sector ended the year in last place in the stock market.  Amid this rout, ExxonMobil stood out for its poor performance. The company’s stock lost 40 percent […]

Actualización IEEFA: Las centrales de gas natural con financiación federal siguen estando en el punto de mira de la autoridad responsable de la energía eléctrica en Puerto Rico

Una central de ciclo combinado de 400 megavatios (MW) y 11 plantas de pico nuevas recibirán 850 millones de dólares de los fondos federales

En agosto de 2020 el Negociado de Energía de Puerto Rico aprobó un plan a largo plazo para el sistema eléctrico de la isla en el que se pedían mayores inversiones en energía renovable y almacenamiento. Dicha entidad había trabajado durante meses integrando análisis de varias partes interesadas y finalmente había rechazado nuevas iniciativas de […]

and January 12, 2021 Read More →

IEEFA: Puerto Rico power authority continues end-run attempts around regulators with federally-funded natural gas plans

$850 million in federal funds targeted for 400-megawatt (MW) combined-cycle natural gas plant and 11 new peaker plants

In August 2020, the Puerto Rico Energy Bureau approved a long-term plan for the island’s electrical system that called for greater investments in renewable energy and storage. The bureau worked for months to integrate analysis from a variety of stakeholders and eventually rejected new natural gas initiatives because of their costs and logistical challenges. Yet […]

and January 12, 2021 Read More →

IEEFA: After a terrible 2020, the oil industry’s story has turned political

For 2021, expect conflict and infighting to further muddy the industry’s prospects

It was a dismal year for oil and gas. As the pandemic sucked the wind from the sails of the global economy, oil demand slumped, stockpiles swelled, prices sagged, capital spending collapsed, debt ballooned, profits evaporated, and bankruptcies skyrocketed. After this torrent of bad news, the energy sector ended the year in last place in […]

IEEFA Puerto Rico: la AEE recibe apoyo en forma de un crédito, ¿una estrategia sensata u otro ardid inútil?

El préstamo del Estado Libre Asociado de Puerto Rico plantea más preguntas sobre los ahorros derivados de la privatización del sistema de transmisión y distribución

La semana anterior a la Navidad, la Junta de Supervisión y Administración Financiera de Puerto Rico (JSAF) anunció cautelosamente un plan para que el Gobierno del estado libre asociado preste casi 1000 millones de dólares a su Autoridad de Energía Eléctrica (AEE) con el fin de facilitar la privatización del sistema de transmisión y distribución […]

IEEFA: NYS Comptroller DiNapoli’s bold divestment plan may inspire investors to follow suit

Divestment option should be emulated by other major funds

New York State Comptroller Thomas P. DiNapoli, who heads one of the largest public pension funds in the U.S., concluded 2020 with a bold investment decision on fossil fuels. He will hold the entire industry to higher standards regarding climate change and establish broader scrutiny of a pension portfolio with holdings that span the entire economy in a […]

January 7, 2021 Read More →

IEEFA Puerto Rico: Credit support for PREPA, a sensible tool or another wasteful gimmick?

Commonwealth loan raises more questions about savings from T&D privatization

The week before Christmas, the Financial Oversight and Management Board for Puerto Rico (FOMB) quietly announced a plan for the commonwealth’s government to loan almost $1 billion to its electrical power authority (PREPA) to facilitate the privatization of the island’s transmission and distribution system. This plan was presented in a poorly documented filing that reveals that […]