Press Statement

November 15, 2021 – LUMA’s entire senior executive leadership team, including our CEO,consists of highly qualified, skilled professionals with decades of specialized energy and utility experience. Such expertise and experience are central to repairing, rebuilding, and modernizing the electric grid, as well as improving reliability, resiliency, customer service, and operating as efficiently the utility as best possible. As part of our commitment to operating efficiently, we want to highlight these three important facts related that help address questions related to executive compensation:

FACT 1: As is evident across the United States and the world, the scope and nature of such electric operations and infrastructure work demands senior levels of management expertise and experience that is reflected in the overall compensation of all utility senior executives. 

FACT 2: Current executive compensation of LUMA six senior leaders is not only comparable to other public energy companies serving millions of customers but is in fact at the bottom or near the bottom than what comparable U.S. based public energy companies pay and compensate their senior executive leaders – (please see table below).

FACT 3: All compensation for the six senior leaders is not paid by customer rates or public funds but is paid by LUMA’s parent companies.

FACT 4: All of our six senior leaders proudly reside in Puerto Rico.

While we understand that some may question compensation of our senior leaders, we are determined to hire the best, and to hold them accountable to building the best energy system for the people of Puerto Rico.

With respect to the larger issue of confidentiality, we are deeply concerned that the publication of employee information, regardless of title, threatens any employee’s expectation for privacy.Every Puerto Rican, whether they work at LUMA or not, deserves a degree of privacy, safety, and security. While we support the full regulatory and legislative review of our work and those who do the work on behalf of the Puerto Rican people, such review should needlessly expose private information. Whether its customer or employee data, or information related to the security of the electric grid, we take our duty to protect such information incredibly seriously. Going forward, we will continue to stress how important it is that we do all we can to protect the incredible men and women who work at LUMA, as well as the work they do for the Puerto Rican people.