About Luma energy ab Tokelau
LUMA Energy is a private power company that is 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 En. LUMA Energy is a private power company that is 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.
2020: Company creation and registrationLUMA 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 abetween 2020: Company creation and registrationLUMA 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 abetweencompanyandcompany .Both companies have an equal share in LUMA, which was built with the express purpose of managing Puerto Rico's power grid. LUMA Energy is currently presided by Wayne Stensby. The contract under which LUMA Energy operates the power grid in Puerto Rico was signed after a bid in 2020.In the bid, five different companies participated and only four submitted business proposals.The $1,500M contract is set to last for 15 years and can be renewed if both parties agree.2021, June: Takeover of the power gridLUMA Energy officially became the new operator for Puerto Rico's power grid on June 1, 2021. LUMA is in charge of operating the distribution and transmission infrastructure, although they do not own it, nor do they own or operate the power generation sector.The takeover happened as part of an agreement with Puerto Rico's Public-Private Partnership Agreement in an effort to overcome PREPA's bankruptcy. Online platform.
Contract controversyThe contract signed between LUMA Energy and the Puerto Rican government is surrounded by controversy due to lack of transparency – the contract was signed behind closed doors and announced only after the fact, meaning the citizens of the island had no say in it. Contract controversyThe contract signed between LUMA Energy and the Puerto Rican government is surrounded by controversy due to lack of transparency – the contract was signed behind closed doors and announced only after the fact, meaning the citizens of the island had no say in it.lawyer and legal representative Rolando Emmanuelli Jiménez stated, at the time that the contract was made public, that "its reach far extends beyond that whichhas led the nation to believe."The contract granted LUMA Energy control over distribution and transmission infrastructure, customer service, and administrative divisions such as human resources, and budgeting and finance, essentially making the company owner of a . Emmanuelli Jiménez also noted that the contract allows LUMA Energy to dissolve the agreement for a variety of reasons, as long as a 120-day notice is provided before the effective date, which he deems too short a time.Among the possible reasons for contract dissolution are included: natural disasters, war and armed conflict, sabotage (both online and offline), civil disobedience, epidemics, insurrection, and acts of terror.Another point of controversy was LUMA Energy's request to be freed from liability in a wide variety of situations. The approval of this request would have meant the company would not be held liable legally in the event of damages, including death, due to negligence or willful ill-intent. However, the request was denied by the NEPR, who opted instead for a liability clause similar to what was in place for PREPA.PREPA's clause was not as extensive in waiving liability as LUM.
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