![]() ![]() Energy prices have soared this year in part due to Russia's invasion of Ukraine.īut Sanzillo of the IEEFA thinks this disparity could have been at least mitigated through improvements to the grid's infrastructure. Luma's Bahramirad said the company has "nothing to do with increased electricity costs," adding that this is primarily a function of higher energy costs around the world. After Hurricane Maria, some parts of the island were without power for roughly a year. 10 that power had been restored to 99% of clients affected by Hurricane Fiona. "When we took over about 16 months ago, the situation of the power grid was 60% worse than the worst fourth-quartile utility in the country," said Shay Bahramirad, senior vice president of engineering asset management and capital programs at Luma Energy.īahramirad said that, in those 16 months, the frequency of power outages has fallen by about 30% to 7.6 per year from about 10.6 per client. Luma didn't comment on those remarks but has said that the grid - which serves more than 1.4 million clients - had for decades been mismanaged by its predecessor, PREPA, and that "the more than 3,000 men and woman of LUMA are focused on restoring power to every customer impacted by Category 1 Hurricane Fiona and building and transforming the electric system for the future." Pierluisi told local newspaper El Nuevo Día that he asked Luma to make some management changes so the company could better handle the situation. Pedro Pierluisi's home in Old San Juan, demanding the Luma contract be canceled. In July, about two months before Hurricane Fiona hit Puerto Rico, hundreds of residents marched to Gov. Island residents have also protested due to Luma's services. "That means we're sort of nowhere, and nothing's really been fundamentally invested in the grid." "Since Maria, they have basically just restrung the wires, they fixed some of the transfer stations, and the basic generation system is still the same," said Tom Sanzillo, director of financial analysis at the IEEFA. In September, a Puerto Rico resident told local news station WAPA TV: " Here, you blow out a birthday candle and the power goes out." Improvements since then appear to have been slow to come, with power outages becoming the norm even before Hurricane Fiona, according to residents and media reports, leading to seemingly growing dissatisfaction with Luma. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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