San Juan, Puerto Rico, October 1, 2021 – LUMA, as a representative of the Puerto Rico Electric Power Authority (PREPA), and in compliance with the regulation and the current legal framework for the electricity sector, submitted a request for a tariff adjustment for the last quarter of the year to the Puerto Rico Energy Bureau (PREB).

This petition was filed based on the component of the electricity tariff that varies according to the costs of fuel consumed by PREPA’s generating plants and the purchase of energy from other private generators.

This component is evaluated quarterly to ensure that fuel and power purchase costs are recovered in revenue to maintain a financially stable and sustainable electricity system. The PREB, as the regulator of the sector, is in charge of establishing fair and reasonable rates for Puerto Rican consumers. The PREB accepted the calculations presented by LUMA and in its power to accept, deny or adjust the request decided to approve an adjustment equivalent to an increase of $0.007 per kilowatt-hour.

Currently, LUMA is analyzing the determination of the regulatory entity. However, it is of the utmost importance to remember that LUMA’s compensation is not linked to electricity tariffs and that there is no mechanism by which LUMA can increase its remuneration or profits due to the increase in tariffs.