August 6, 2020 Read More →

New acting director tabbed for troubled Puerto Rico power authority

Caribbean Business:

Engineer Efran Paredes Maisonet was selected by the Puerto Rico Electric Power Authority (Prepa) governing board on Wednesday evening to serve as acting executive director of the public utility, starting Thursday.  

Paredes, who had been acting as Prepa’s Environmental Planning and Protection division director and who has occupied posts at the public corporation since 2000, substitutes José Ortiz, whose resignation as Prepa chief took effect at midnight Wednesday. 

“Engineer Paredes-Maisonet has been a highly competent servant. His two decades of experience at Prepa [has] allowed him to have the corporation background and close-up knowledge of the transformation that has been underway,” Prepa Governing Board Chairman Ralph A. Kreil Rivera said in a press release issued after an extraordinary meeting of the board convened on the matter. “We appreciate his acceptance of the designation and his availability to work in close collaboration with the governing board to reach the efficiency goals we have set for ourselves.” 

The controversial LUMA contract is being challenged in court by the Irrigation & Electrical Workers Union (Utier by its Spanish acronym), the largest labor union at Prepa, which argues that the contract is one-sided and favors the interests of the consortium over those of the utility workers and customers. In testimony recently submitted to the U.S. House Committee on Natural Resources, Institute for Energy Economics and Financial Analysis (IEEFA) Finance Director Tom Sanzillo warned of significant problems with the LUMA deal, arguing that it “provides no accountability mechanism for LUMA to meet either ratepayer savings or renewable energy goals.”   

[José Alvarado Vega]

More: Parades appointed acting Prepa executive director

Posted in: IEEFA In the News

Comments are closed.