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The Puerto Rico Energy Bureau (PREB) has denied LUMA Energy’s proposal to modify the factors of the electricity rate clauses for the interval from October to December 2024, as detailed in a resolution and order released earlier this week.
“The factors associated with the Fuel Purchase Adjustment Clauses, Energy Purchase, and Fuel Subsidy will remain constant through December 31, 2024,” stated the PREB in its resolution issued on Monday.
“Upon reviewing the Motion dated September 26, the Energy Bureau DENIES the quarterly adjustment report to Genera’s fuel budget submitted via the Motion from September 18, as the existing factors will stay the same,” the resolution further notes.
The PREB cautioned LUMA Energy, the private entity managing Puerto Rico’s electric power transmission and distribution system, that non-compliance with this ruling may lead to penalties of up to $25,000 daily, per Article 6.36 of Law 57-2014, alongside additional administrative repercussions.
