LUMA: Fuel cost adjustment is not an increase in electricity bills.

By THE STAR STAFF

LUMA Energy stated on Wednesday that the fuel cost adjustment on electricity bills is not a rate increase requested by the company, but rather a regulated mechanism that responds to changes in the energy market.

“It is important to clarify that this does not constitute a request for a rate increase on the part of LUMA,” LUMA Energy said in a written statement. “The fuel cost adjustment is a regulated mechanism that reflects changes in the cost of energy generation.” 

“This component of the bill responds to energy market factors that are beyond LUMA’s control, including global events that may impact fuel prices,” the statement added. “LUMA neither controls nor benefits from this adjustment.”

The grid operator added that the fuel cost adjustment is reviewed quarterly by the Puerto Rico Energy Bureau, given variations in energy generation costs, which depend on conditions external to the island’s electrical system.