A federal control board overseeing Puerto Rico's finances has announced plans to intervene in speeding up projects aimed at fixing the island's deteriorating power grid, as widespread outages continue to plague the region. Despite more than $17 billion authorized by the U.S. Congress to stabilize and enhance the grid's reliability, only $1.2 billion has been utilized in the seven years since Hurricane Maria struck the island in 2017.
The executive director of the board emphasized the urgent need for quicker progress, labeling the current situation as unacceptable. While there have been calls from frustrated residents to terminate the contract with Luma Energy, the operator of power transmission and distribution, the board rejected this proposal, citing the necessity to avoid reverting to the previous system.
With concerns over frequent power failures, the board stressed the importance of prioritizing immediate project completion and urged federal agencies to expedite necessary approvals and waivers to facilitate the process. Governor Pierluisi acknowledged the challenges in accessing the allocated funds and highlighted the administration's efforts to navigate bureaucratic obstacles, including advancing money to contractors to accelerate grid reconstruction.
As Puerto Rico aims to transition towards renewable energy, particularly in light of its heavy reliance on fossil fuels for electricity generation, the board's legal challenge against amendments to the net-metering law has sparked controversy. The amended law, which restricts changes to the net metering program until 2031, has drawn criticism and led to protests outside the board's meeting.
While the board clarified that it does not intend to eliminate net metering or alter the current rooftop solar program, concerns persist regarding the potential impact on the island's energy sector. The lawsuit filed by the board underscores the financial implications for the Electric Power Authority, which is grappling with significant debt restructuring.
Amidst ongoing efforts to enhance Puerto Rico's power infrastructure and address energy challenges, the collaboration between federal authorities, the local government, and stakeholders remains crucial in ensuring sustainable and reliable electricity services for the island's residents.
