LUMA Energy vice president José Pérez rejected that the company is directly responsible for the recent increase in electricity costs. He explained that LUMA calculates the differences between what was budgeted and what was actually spent on generation and presents them to the Energy Bureau, which evaluates and approves the quarterly adjustments. In a radio interview with Rubén Sánchez, Pérez said LUMA acts as the contractual vehicle that reports to the Bureau how much was budgeted for generation and how much was ultimately spent.
He noted that the adjustments are made every three months and have not always meant increases; since 2021 there have also been occasions when the Energy Bureau has ordered reductions in the price per kilowatt-hour. Pérez attributed part of the variation in generation costs to international fuel prices. He stressed that LUMA manages the transmission and distribution system—poles, cables and transformers—and not electricity generation.
Pérez also clarified the $1.3 billion figure LUMA presented as a possible cost of terminating its contract early. He said the company is not requesting that amount to leave Puerto Rico and reiterated that LUMA does not plan to leave. "No," Pérez answered when Sánchez asked whether LUMA was leaving, asking for $1.3 billion to exit, or wanted to abandon Puerto Rico.
He said the company will continue operating and hiring employees while its contract remains in force.