By The Star Staff
Financial Advisory Authority and Fiscal Agency (AAFAF by its Spanish initials) Executive Director Omar Marrero Díaz asked the Financial Oversight and Management Board in writing on Tuesday for time to make amendments to the net metering law.
The oversight board had given the government until Tuesday to repeal Act 10, which postpones a study on net metering and rates until 2031.
Marrero Díaz told the oversight board that instead of starting a long and expensive judicial process, the board should give the Legislature time to consider its objections, participate in discussions and address any potential amendments to the net metering law. The current legislative session ends June 30.
“The AAFAF recognized the willingness expressed by the Legislature to engage in discussions aimed at reaching consensus, but this process cannot be completed in the tight deadline of three working days suggested by the Board,” Marrero Díaz wrote. “Furthermore, given the commitment of the Governor and his administration to the public policy that favors renewable energy initiatives, AAFAF believes the industry’s input on the possible impacts that any significant change to the net metering program” is needed.