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Puerto Rico Water Resources Authority
The Puerto Rico Electric Power Authority (PREPA; Spanish: ''LUMA'', ''AEE'') was an electric power company owned by the Commonwealth of Puerto Rico responsible for electricity generation, power distribution, and power transmission on the island. PREPA was the only entity authorized to conduct such business in Puerto Rico, making it a government monopoly, until on January 22, 2018, former governor of Puerto Rico, Ricardo Rossello, announced that all assets of the company will be sold in a general privatization of PREPA. The authority was ruled by a board of directors appointed by the governor with the advice and consent of the Senate. Since 2014, PREPA was subject to the Puerto Rico Energy Commission, another government agency whose board of directors was also appointed by the governor. Hurricane Maria in September 2017 destroyed PREPA's distribution network, creating a blackout in all parts of the island. History PREPA was originally named the Puerto Rico Water Resources Aut ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
LUMA Energy
LUMA Energy is the power company responsible for power distribution and power transmission in the Commonwealth of Puerto Rico. They are also in charge of maintaining and modernizing the power infrastructure. Previously, these duties belonged exclusively (according to the law) to the Puerto Rico Electric Power Authority (PREPA, Spanish ''Autoridad de Energía Eléctrica, AEE''), but as of July 20, 2018, permission was granted for PREPA assets and service duties to be sold to private companies, and on June 22, 2020, a 15-year contract with LUMA was signed, making LUMA the new operator. The takeover took place on June 1, 2021. History 2020: Company creation and registration LUMA Energy was registered in Puerto Rico's Registry of Corporations and Entities on January 17, 2020, under the name LUMA Energy ManageCo, LLC. The name was changed to LUMA Energy, LLC. as of June 12, 2020. The company is a joint venture between Houston company Quanta Services Inc. and Alberta, Canada compa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
