Soon after, LUMA Energy representative José Pérez spoke on the radio to explain that the web service failures may have been due to excess traffic. However, the platform failed to work as expected. The platform was meant to seamlessly allow the hand-over of online services, including bill payments and outage report submissions. Online platform Īs part of the company's takeover, a new online platform was made available. The takeover happened as part of an agreement with Puerto Rico's Public-Private Partnership Agreement in an effort to overcome PREPA's bankruptcy. 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. LUMA Energy officially became the new operator for Puerto Rico's power grid on June 1, 2021. The $1,500M contract is set to last for 15 years and can be renewed if both parties agree. In the bid, five different companies participated and only four submitted business proposals. The contract under which LUMA Energy operates the power grid in Puerto Rico was signed after a bid in 2020. LUMA Energy is currently presided by CEO Wayne Stensby. Both companies have an equal share in LUMA, which was built with the express purpose of managing Puerto Rico's power grid. The company is a joint venture between Houston company Quanta Services Inc. The name was changed to LUMA Energy, LLC. LUMA Energy was registered in Puerto Rico's Registry of Corporations and Entities on January 17, 2020, under the name LUMA Energy ManageCo, LLC. History 2020: Company creation and registration 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. They are also in charge of maintaining and modernizing the power infrastructure. LUMA Energy is the power company responsible for power distribution and power transmission in the Commonwealth of Puerto Rico. Please help update this article to reflect recent events or newly available information. The reason given is: Information is only up to date as far as summer 2021, but a lot has happened since. Parts of this article (those related to History) need to be updated.
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