Puerto Rico-PREPA

IEEFA Research

IEEFA: LUMA Energy deal paves way for Puerto Rico regulators to repeat past mistakes

IEEFA: LUMA Energy deal paves way for Puerto Rico regulators to repeat past mistakes

Multiple issues in contract likely to contribute to failure of safe, reliable and resilient grid

October 12, 2020 (IEEFA) ‒ A major contract signed with the LUMA Energy consortium may prevent Puerto Rico from building a safe, reliable and resilient electrical system, according to a new report from the Institute for Energy Economics and Financial Analysis. The deal to operate the island’s grid came in the wake of a series […]

IEEFA: Acuerdo de LUMA Energy allana camino para que los reguladores de Puerto Rico repitan errores pasados

Múltiples problemas en el contrato que pueden contribuir al fracaso de una red segura, confiable y resiliente

12 de octubre de 2020 (IEEFA) – Un importante contrato firmado con el consorcio LUMA Energy puede impedir que Puerto Rico construya un sistema eléctrico seguro, confiable y resiliente,  según un nuevo informe del Instituto de Economía Energética y Análisis Financiero. El acuerdo para operar la red de la isla se produjo a raíz de […]

IEEFA update: T&D agreement for Puerto Rico power grid sets off alarm bells

IEEFA update: T&D agreement for Puerto Rico power grid sets off alarm bells

Fails to include accountability mechanisms for meeting cost, labor, and green energy goals, Sanzillo tells U.S. House Committee

August 4, 2020 (IEEFA U.S.) – In testimony submitted to the U.S. House Committee on Natural Resources, IEEFA’s director of finance Tom Sanzillo warned of significant problems with a recent agreement for LUMA Energy to take over transmission and distribution (T&D) of Puerto Rico’s electric power grid. The agreement fails to address three major challenges, […]

IEEFA Puerto Rico: Utility PREPA gave unfair advantage to NFE in awarding $1.5-billion power plant contract

IEEFA Puerto Rico: Utility PREPA gave unfair advantage to NFE in awarding $1.5-billion power plant contract

Actions circumvented rules, outside investigation urgently needed

June 10, 2020 (IEEFA) — A lucrative contract to deliver natural gas to a Puerto Rico power generation plant was awarded through a process plagued by irregularities that provided unfair advantages to a company with limited experience on the island, according to a report co-authored by Tom Sanzillo of the Institute for Energy Economics and […]

IEEFA Puerto Rico: la AEE le brindó una ventaja injusta a NFE al adjudicar un contrato de generación de energía por $1,500 millones

Las acciones burlaron la reglamentación por lo que urge una investigación externa

10 de junio de 2020 (IEEFA) – Un informe publicado por Tom Sanzillo del Instituto de Economía Energética y Análisis Financiero (IEEFA, por sus siglas en inglés) e Ingrid Vila Biaggi de CAMBIO señala que la Autoridad de Energía Eléctrica (AEE) adjudicó un contrato lucrativo para conversión y entrega de gas natural a una planta […]

IEEFA letter to Puerto Rico’s Legislative Assembly: Secure more viable PREPA debt deal

IEEFA letter to Puerto Rico’s Legislative Assembly: Secure more viable PREPA debt deal

Agreement is weighted down by legacy debt - unfairly burdens ratepayers

October 29, 2019 (IEEFA U.S.) – The Institute for Energy Economics and Financial Analysis (IEEFA) sent a letter to Puerto Rico’s Legislative Assembly on Tuesday, urging representatives to reject the proposed Restructuring Agreement (RSA) for electric utility PREPA and to pursue more affordable, sustainable and transparent options for financing and managing the Commonwealth’s electric system. […]

IEEFA a Legislatura de Puerto Rico: Aseguren un acuerdo de deuda de AEE más viable y seguro

El acuerdo se ve afectado por la deuda heredada, carga injustamente a los contribuyentes

29 de octubre de 2019 (IEEFA EE. UU.) – El Instituto de Economía Energética y Análisis Financiero (IEEFA) envió el martes una carta a la Asamblea Legislativa de Puerto Rico instando a los legisladores a rechazar el Acuerdo de Reestructuración (RSA por sus siglas en inglés) propuesto para la Autoridad de Energía Eléctrica (AEE) y […]

IEEFA report: Puerto Rico Electric Power Authority debt deal weak and plagued by scandal

IEEFA report: Puerto Rico Electric Power Authority debt deal weak and plagued by scandal

Island residents face decades of unaffordable rate hikes and fees

August 21, 2019 (IEEFA) ‒ The Puerto Rican legislature will soon consider a debt restructuring deal for Puerto Rico’s Electric Power Authority (PREPA) that is unaffordable and risks jeopardizing the island’s economic recovery, according to a report released today by the Institute for Energy Economics and Financial Analysis (IEEFA). The report, Puerto Rico Electric Power […]

Informe del IEEFA: Débil y plagado de escándalo el acuerdo de la deuda de la Autoridad de Energía Eléctrica de Puerto Rico

Los residentes de la Isla se enfrentan a décadas de aumentos de tarifas y cargos inasequibles

21 de agosto de 2019 (IEEFA, Estados Unidos) – La legislatura puertorriqueña pronto considerará una reestructuración del acuerdo de la deuda para la Autoridad de Energía Eléctrica (AEE) que es inasequible y pone en riesgo la recuperación económica de la Isla, según un informe publicado hoy por el Instituto de Economía Energética y Análisis Financiero […]

IEEFA Puerto Rico: PREPA privatization means crushingly high electric rates

IEEFA Puerto Rico: PREPA privatization means crushingly high electric rates

“Nonpolitical” plan is poorly regulated and likely means more corrupt contracts

The Puerto Rican government is moving full-steam ahead with a series of privatization contracts for the Puerto Rico Electric Power Authority (PREPA) that are likely to lock customers into even more expensive electric rates than they currently pay. Instead of taking this opportunity to make electricity affordable and resilient, the government plan will tie the […]

and February 1, 2019 Read More →

More News and Commentary

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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
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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 →
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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 Puerto Rico: Credit support for PREPA, a sensible tool or another wasteful gimmick?
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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 […]

IEEFA: LUMA Energy deal paves way for Puerto Rico regulators to repeat past mistakes
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IEEFA: LUMA Energy deal paves way for Puerto Rico regulators to repeat past mistakes

Multiple issues in contract likely to contribute to failure of safe, reliable and resilient grid

October 12, 2020 (IEEFA) ‒ A major contract signed with the LUMA Energy consortium may prevent Puerto Rico from building a safe, reliable and resilient electrical system, according to a new report from the Institute for Energy Economics and Financial Analysis. The deal to operate the island’s grid came in the wake of a series […]

and

IEEFA: Acuerdo de LUMA Energy allana camino para que los reguladores de Puerto Rico repitan errores pasados

Múltiples problemas en el contrato que pueden contribuir al fracaso de una red segura, confiable y resiliente

12 de octubre de 2020 (IEEFA) – Un importante contrato firmado con el consorcio LUMA Energy puede impedir que Puerto Rico construya un sistema eléctrico seguro, confiable y resiliente,  según un nuevo informe del Instituto de Economía Energética y Análisis Financiero. El acuerdo para operar la red de la isla se produjo a raíz de […]

Puerto Rico regulators back renewable energy transition, reject utility’s gas-heavy proposal

Greentech Media: The Puerto Rico Electric Power Authority will be required to acquire thousands of megawatts of renewables and storage in the coming years, according to a Monday order from the island’s energy regulators that also rejected many natural-gas additions included in the utility’s integrated resource plan. In its IRP filed last year, state-owned PREPA […]

August 26, 2020 Read More →
IEEFA update: T&D agreement for Puerto Rico power grid sets off alarm bells
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IEEFA update: T&D agreement for Puerto Rico power grid sets off alarm bells

Fails to include accountability mechanisms for meeting cost, labor, and green energy goals, Sanzillo tells U.S. House Committee

August 4, 2020 (IEEFA U.S.) – In testimony submitted to the U.S. House Committee on Natural Resources, IEEFA’s director of finance Tom Sanzillo warned of significant problems with a recent agreement for LUMA Energy to take over transmission and distribution (T&D) of Puerto Rico’s electric power grid. The agreement fails to address three major challenges, […]

U.S. corporations benefitting from PREPA rebuilding, but is Puerto Rico?

Huffington Post: Puerto Rico Electric Power Authority, the state-owned power monopoly, has awarded $4.4 billion in contracts to companies hired to repair the extensive damage to the island’s aging electrical grid. But outages are an enduring and lethal fact of life in Puerto Rico, where the grid remains fragile. An earthquake in January 2020 plunged […]

July 1, 2020 Read More →
IEEFA Puerto Rico: FERC orders New Fortress Energy to explain lack of permission for San Juan LNG facility
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IEEFA Puerto Rico: FERC orders New Fortress Energy to explain lack of permission for San Juan LNG facility

Gas project proceeded with favoritism, flew under the radar of regulators

June 22, 2020 (IEEFA U.S.) — Federal regulators have asked the operator of a scandal-plagued Puerto Rico energy project to explain why they didn’t seek permission to build and operate a liquid natural gas terminal (LNG) adjacent to the island’s first major power project since a 2017 hurricane devastated the island’s electrical grid. The Federal […]