LUMA Energy responded this afternoon to the signing of an Executive Order by Governor Pedro Pierluisi to set up a steering committee to supervise the Public Private Alliance (APP) contract for the transmission and distribution of electricity that has been granted to the company.
As they said in a written communication, they welcome this mandate that focuses on the operation and maintenance contract for Puerto Rico’s electrical system.
“We are delighted that Governor Pierluisi has formed this working group to ensure that the agreement’s primary goal is to transform Puerto Rico’s electrical system into a customer-centric, reliable, sustainable and economical system. Transparency is a fundamental value for LUMA, especially as a better electrical system will improve the lives of all Puerto Ricans, and we will have to work with the committee to protect the interests of the people of Puerto Rico, ” said Wayne Stensby, President and CEO of LUMA Energy.
Implementing Decree 2021-012 establishes the need to establish a Steering Committee to monitor and ensure that the implementation and execution of the contract between the Authority for Public Private Partnerships (AAPP), the Electric Power Authority ( PREPA) and LUMA do not increase the electricity tariff; that this contract is not used as the basis for the dismissal of a regular PREPA employee and that its benefits are maintained; that appropriate contributions are made to PREPA’s Employee Retirement System for employees who transfer to LUMA and decide to continue contributing under that System; that there are measures to avoid conflicts of interest in the award of contracts and that clear and specific standards of compliance and performance are established and adhered to.
Stensby said LUMA is in the process of recruiting thousands of employees to realize a comprehensive transformation of the island’s electrical system.
“To this end, PREPA employees are given priority recruitment and can currently apply to LUMA earlier than other candidates. No PREPA employee will lose their job as a result of this transaction. Those who do not join LUMA have the option to join PREPA. remain or transfer to other agencies of the government of Puerto Rico. This framework is established in Law 120 and the agreement does not alter or attempt to change this law. Those employees will also retain their rights and benefits in accordance with the law . ”he continued.
He also said employees transferring to LUMA can choose to continue contributing to PREPA’s retirement plan or enroll in the 401K plan that LUMA offers its employees.
With regard to the electricity tariff, LUMA clarified that, as established by the Puerto Rico Energy Transformation Law, it is the responsibility of the Puerto Rico Energy Bureau to review, determine and approve the electricity tariffs paid by consumers in Puerto . Rich.