Estimated spend tops US$5bn for Puerto Rico’s Luma Energy in 2024-26

Puerto Rican power transmission and distribution operator Luma Energy’s estimated spending for 2024-26 reaches a total US$5.2bn.

The figure is part of the company’s budget for the three-year period filed with the island’s energy regulator PREB and focused on system recovery and resilience.

Next year’s planned spend is US$988mn, the bulk of which will come from the federal government, going to enabling and support efforts related to safety and technical training, and distribution work such as new technologies and capital investments to increase grid reliability. 

The amounts for 2025 and 2026 are put at US$1.88bn and US$2.32bn, respectively.

Luma said it “has not proposed any change to the base rate since commencing operations on June 1, 2021, and does not propose any increase or any change in the base rate at this time.”

“As the result of increases in reimbursements for federally funded activities and increased collections on historical past due accounts, additional funds have been identified and authorized for use by the P3A,” it added.

The 411-page budget report is available here and in the Documents box in the upper right corner.

Luma recently highlighted that its most important achievements to date include the connection of over 54,000 clients to solar panels, the submission of 349 reconstruction projects to the Federal Emergency Management Agency and the installation of more than 30,300 public light poles.