Puerto Rico Energy Crisis and Regulatory Confusion

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Presentation transcript:

Puerto Rico Energy Crisis and Regulatory Confusion NASUCA Mid-Year Meeting Minneapolis, MN June 26, 2018

State Regulation of PREPA 2014 – The Energy Transformation and Relief (Act 57) enacted, creating the P.R. Energy Commission and Independent Office of Consumer Protection 2016 - First Rate Case decision issued by the Commission 2016 - Establishment of PROMESA and “La Junta” for a bankruptcy process for restructuring debt 2017 - Hurricane Maria kills thousands and devastates the grid 2018 - SB 860 becomes law (6/14/18), setting a path for privatization of the electric grid, and a competitive bidding system for electric generation.

Privatization Plans under SB 860 Public Private Partnerships Authority (PPA) will manage a bidding process to sell off PREPA’s power plants. Generation will become a “competitive” process whereby the Energy Commission can approve or disapprove each proposal within 15 days Transmission and Distribution system will be operated under a long-term “concession” Law conditioned upon the adoption of new IRP in 180 days.

SB 860 fallout (continued) Energy Commission and Consumer Advocate survived intact. Commission members expanded from 3 to 5. All new members to be appointed by Governor. P3 issued by PPA, inviting interested private energy providers to submit bids, along with ideas for how they wish to be regulated.

Some entities wanting a say in PREPA’s future Gov. Rossello (New Progressive Party) Public Private Partnerships Authority (PPA) PREPA Fiscal Board PROMESA (La Junta) UTIER – the electric workers union (La Syndicate) US Dept. of Energy contract with Southern States Energy Board Energy Commission

AARP Advocacy for Preserving Energy Regulatory System

Reorganization Bill Passed Yesterday HB 1408 Passes the Senate yesterday (6/25/18) Gov. Rossello expected to sign. Energy Commission and Consumer Advocate to be merged and placed under an umbrella Regulatory Board controlled by Gov. Consumer Advocate office’s powers remain intact, but with the elimination of the Executive Director. Assessment Funding in question.