P3s at Your Service Puerto Rico focuses on LUMA, but we forget there are other 8 P3s
These days, the subject of Public Private Partnerships (P3s) has become daily news because of the turmoil surrounding the frequent, long-lasting, and worrisome blackouts that are happening across Puerto Rico. Until last year, the Puerto Rico Electric Power Authority, known as PREPA, was the government’s bankrupt monopoly in power generation, transmission, and distribution of electric power. On June 1, 2021, when LUMA Energy took over the transmission and distribution of energy some fourteen months ago, most called LUMA’s results questionable, at best.
However, let me recall how the Public Private Partnership model began in Puerto Rico. Some might think that the Luis Muñoz Marin Airport P3 was the first, or PR 22 and PR P3 was the second. The first P3 in Puerto Rico was the Teodoro Moscoso Bridge, to design, build, finance, operate, and maintain the toll concession that began in December 1991 and opened to the public on February 28, 1994. The Teodoro Moscoso P3 has been a worldwide example of success.
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