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AEE and APP tell committee Luma’s management and documentation, not government deposits, are the main problem
Summary
AEE and APP officials told lawmakers the government provided initial seed funding when Luma began operations and said the principal problem is Luma’s execution, documentation and low federal-reimbursement rates, not a deliberate withholding of cash by the AEE.
Officials from the Autoridad de Energía Eléctrica and the Authority for Public–Private Partnerships told the House committee that Luma’s execution and documentation failures — not solely AEE deposits — explain the system’s cash problems.
Maricarmen Zapata Acosta, AEE executive director, recounted how the government provided an initial pool of funds when Luma began operations on June 1, 2021 and explained the six “service” accounts established under the Operation and Maintenance Agreement (OMA) that feed operations and capital projects. Zapata said AEE retains custody of the billing receipts and described the normal monthly…
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