Businesses Reel Over Rate Increases
Prepa Chief Admits $200M Debt Uncollected; Short-Term Solutions Sought

Puerto Rico’s business sectorcame out against a proposal by the island’s power company to increase the per-kilowatt-hour rate to more than 30 cents, or 17 percent. At the same time, commonwealth agencies reportedly owe LUMA Energy, which provides customer service for the public utility, over $200 million in overdue payments that the Puerto Rico Electric Power Authority (Prepa) chief acknowledged could cover the requested rate hike.
Last week, LUMA Energy, on behalf of Prepa , requested approval of an electricity rate increase from the Puerto Rico Energy Bureau (PREB) of 4.955 cents a kilowatt-hour (kWh), or a 17.1 percent rate hike, for the quarter beginning on July 1. This would increase the kWh from 29.04 cents to 33.99 cents. The new rate would be double the 17 cents per kWh in early 2020, when the cost of petroleum plunged due to the COVID-19 pandemic crisis.
To read the entire story subscribe now to our epaper at caribbeanbusiness. com
Related Posts
Latest News
-
Being Vigilant of the 7 Benchmarks to end 2022
We are just about to end the fourth quarter of...
- Posted November 22, 2022
-
Inflation Heading Down, What Happens Now?
The Four Benchmarks to review that confirm inflation may be...
- Posted November 14, 2022
-
The Six Factors to Expect during the end of 4Q22
We are deep within the fourth quarter we thought it...
- Posted November 10, 2022
-
Puerto Rico Banks Deliver strong earnings, beating most banks
Puerto Rico Banks Transformed their operational model The Puerto Rico...
- Posted November 9, 2022
-
US Congress Discrimination affecting the Puerto Rico’s Healthcare Ecosystem
The market dynamics that changed the Healthcare Ecosystem as we...
- Posted November 8, 2022
-
MCS contributes over $5 million to support member healthcare
The insurer distributed the amount among 409 community pharmacies in...
- Posted November 7, 2022
-
Droguería Betances Launches 60th Anniversary Ad Campaign
Droguería Betances has launched a new advertising campaign, “60 Reasons...
- Posted October 31, 2022
-
Puerto Rico Food Industry Helps Communities in Aftermath of Hurricane Fiona
Over three-quarters of a million dollars in aid to...
- October 24, 2022
-
Medplus Solutions celebrates 10 years Saving Lives
Innovation and continuous growth Expansion of specialized and more...
- May 18, 2022
-
Amazon Web Services Expands Operations in Puerto Rico
Local Office Will Offer Services to other Caribbean Islands...
- April 22, 2022
-
García Padilla: Rubio Is No Friend of Puerto Rico
Governor Says Rubio's Remarks Confirm he Works for 'Vultures'
- February 26, 2016
- 15
You must be logged in to post a comment Login