LUMA submits fuel & purchased power reconciliations

Proposes new rate adjustments for July-Sept

By THE STAR STAFF

LUMA Energy filed its latest quarterly reconciliation of fuel and purchased power costs with the Puerto Rico Energy Bureau (PREB) this week, detailing variances for March through May of this year and proposing updated rate adjustment factors that would take effect July 1.

In its filing, LUMA reported an excess of $1.16 million in fuel charge revenues for the quarter, contrasted with a $17 million shortfall in purchased power revenues. The company that operates the island’s electric power transmission and distribution system attributed the fluctuations to fuel cost data provided by power plant fleet operator Genera PR and purchased power invoices from private generators, noting that it does not procure fuel, set fuel prices or control generation availability.

For March, April and May, LUMA reported fuel costs ranging from $115.3 million to $162.1 million, with revenues exceeding costs in March and April but falling short by $15.47 million in May. Purchased power costs also exceeded revenues in all three months, with the largest gap -- $7.67 million -- occurring in May.

The filing also incorporates program costs ordered by the PREB, including the Customer Battery Energy Sharing (CBES) Program and the Accelerated Storage Addition Program (ASAP). LUMA reported $266,546 in CBES costs and $296,797 in ASAP implementation expenses for the period.

LUMA proposed the following factors for July through Sept. 2026: Fuel Charge Adjustment: $0.125935/kWh; a Purchased Power Charge Adjustment: $0.051170/kWh and a Fuel Oil Subsidy: $0.016063/kWh. 

In a statement, LUMA clarified that it is not seeking rate hikes but merely presenting a reconciliation to the PREB.

The energy regulator will review the filing, supporting documentation and confidentiality request before issuing a final determination.