CNE – Centro Para Una Nueva Economía – Center for a New Economy
Non-profit, economic research and policy development organization
It has been about three years and eight months since Hurricane Maria struck Puerto Rico on September 20, 2017. It is a good time as any, to take stock of the post-storm reconstruction and recovery process as we approach the beginning of yet another hurricane season in the Atlantic Ocean.
The FOMB for Puerto Rico certified a new fiscal plan for the central government on Friday, April 23. The new Fiscal Plan, just like the others, is based on four core elements: (1) budget consolidation (spending cuts and revenue increases); (2) structural reforms; (3) debt relief; and (4) federal funding for disaster relief and COVID-19 assistance.
The agreement between PREPA and LUMA Energy for the operation and management of Puerto Rico鈥檚 electric grid has been in the public spotlight recently. Many private sector organizations, as well as multiple NGOs, have pointed out the deficiencies of that agreement. Yet, canceling or terminating the agreement with LUMA will not solve Puerto Rico鈥檚 electricity problems.
Ponencia del Centro para una Nueva Econom铆a ante la Comisi贸n de Desarrollo Econ贸mico, Planificaci贸n, Telecomunicaciones, Alianzas P煤blico Privadas y Energ铆a de la C谩mara de Representantes de Puerto Rico. Vista P煤blica Sobre la R. de la C. 136.
Back in August 2020, CNE published a report that analyzed important aspects of the agreement between PREPA and LUMA Energy and offered specific recommendations to improve it. Given the recent public debate regarding this transaction, we are republishing a summary of our findings.
After an almost 27-hour session of amendments, debate, and last-minute negotiations within the Democratic camp, the Senate approved President Biden鈥檚 $1.9 trillion American Rescue Plan on March 6, by a 50 to 49 vote.
There have been two recent developments in the ongoing litigation regarding the application of the Supplemental Security Income program to residents of Puerto Rico.
Last week the people of Texas had their most recent close encounter with extreme weather. For the sixth time in twenty years, temperatures dropped to frigid lows and demand for electricity, as could be expected, shot up. But the manager of the Texas grid was singularly ill-equipped to face this foreseeable contingency.
