To help customers impacted by rising fuel costs, LUMA to promote financial support and assistance programs
San Juan, Puerto Rico, September 21, 2023 – On Wednesday, LUMA, as system operator and in accordance with the Puerto Rico Transmission and Distribution Operation and Maintenance Agreement (T&D OMA), filed the required quarterly generation fuel and purchased power cost adjustments with the Puerto Rico Energy Bureau (PREB) based on information provided by GeneraPR and other generation operators.
Based on data provided by GeneraPR, the cost of fuel used by generation facilities in July and August was more than 20% higher than expected due to the impact of globally rising fuel prices and higher-than-forecast system demand during the quarter. International oil prices increased by approximately 28% during those two months, recently reaching $90 per barrel as compared to $70 per barrel on July 1. Given these factors, the calculated fuel and purchased power cost adjustments for a residential customer stated on the filing made with the PREB are anticipated to result in an increase in the factors of approximately 4 cents per kilowatt-hour. PREB, not LUMA, determines whether and what level of adjustments are made in customer rates.
“Global fuel prices are a factor beyond all our control and are a serious issue impacting utility customers in Puerto Rico and across the United States. LUMA does not have any control over these fuel prices, which are set globally, and it is important to remember that LUMA does not generate electricity, nor do we determine the impact fuel costs have on customer rates. While LUMA is not responsible for rising generation fuel costs, we are determined to help our customers. We will be communicating various financial assistance programs and are working with our generation and government partners across Puerto Rico to develop energy solutions that will reduce Puerto Rico’s need for costly fossil fuels in the future,” said Juan Saca, President and Chief Executive Officer of LUMA.
The effect of the recent rise in global fuel costs represents an ongoing issue impacting customers in Puerto Rico and throughout the United States. For example, the price of gasoline in Puerto Rico has increased by 11% over the last three months. The final impact of the fuel cost adjustment on customer rates or bills will be determined by the PREB, not by LUMA. LUMA, as a reminder, does not financially benefit in any way from any change in rates due to any increase in generation fuel costs.
Support for Customers
LUMA remains committed to supporting customers who may have difficulties paying their bills by connecting them to financial assistance programs and offering a variety of LUMA payment plans and special rates.
Since June 2021, LUMA has helped customers access more than $108 million in critical financial assistance from the Low-Income Home Energy Assistance Program (LIHEAP) and other available government programs. Customers who are interested in learning more about payment plans or current government assistance programs can visit www.lumapr.com, call LUMA directly at 1-844-888-LUMA (5862) or visit any of LUMA’s 25 Customer Service Centers across the island.
About LUMA LUMA is a Puerto Rican company that, since June 1, 2021, operates and manages the electric power transmission and distribution system in Puerto Rico. LUMA is a company driven by a mission to transform the electrical transmission and distribution system to provide all Puerto Ricans with the reliable, resilient, cleaner, and affordable electrical grid they deserve. As a customer-centric company, LUMA’s entire workforce of more than 4,000 employees is focused on safely delivering an exceptional customer service experience to its 1.5 million customers.
