The Great Puerto Rico Electricity System Fraud

The debate surrounding LUMA Energy is not limited to constant blackouts; this neoliberal proposal has been created to exploit Puerto Rico (to the extreme) while delaying the transition to renewable sources and plotting a scheme of illicit enrichment of the federal funds for the reconstruction of the grid and system.

They are scamming us, the narrative is straightforward, there have been 7 increases in electricity rates since LUMA Energy was inaugurated (data); These increases respond to requests from LUMA Energy to the Puerto Rico Energy Bureau based on supposed increases in operating costs (data); Specifically, the last two hikes have been requested under the premise of rising crude oil prices (data); The Puerto Rico Energy Bureau recently announced a "reduction" in the rate of 8.2% (data), 

The truth is that the cost of oil has fallen (to 2020 prices) and has continued to fall for more than three months and today is trading at less than 27% of the price used for the hike proposals. 

Conclusion- the increases are scams because they do not reflect the reality of the market, which is why they de facto inflate costs. 

Regarding renewable sources, the truth is that Puerto Rico has not reached 4% of electricity generation by renewables. Also, many of the residents who have installed photovoltaic systems have not received adjusted bills even as they use much less, even no electricity from the grid. 

In a fascinating sidebar, the Pierluisi administration has not in any manner nor form communicated nor addressed to the island the recently approved Inflation Reduction Act (IRA) and its energy implications.

This is not an accusation devoid of references, it is a cold analysis based on data. It seems to prove the obvious complicity of the Puerto Rico Energy Bureau in the scheme to defraud PREPA customers in collusion with LUMA Energy and the Pedro Pierluisi administration.

Pachi Ortizfeliciano