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House committee orders AEE and Luma to hand over bank records as dispute over alleged debt plays out
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Summary
The Puerto Rico House Committee on Government on Oct. 28 demanded detailed bank records from the Autoridad de Energía Eléctrica and Luma Energy as the panel pressed both sides over competing claims about whether the government owes the operator money.
The Puerto Rico House Committee on Government on Oct. 28 demanded detailed bank records from the Autoridad de Energía Eléctrica and Luma Energy as the panel pressed both sides over competing claims about whether the government owes the operator money.
Committee leadership set a firm deadline: the AEE must submit bank-account statements, monthly balances and the transfers from the accounts that receive electricity bill payments — covering January 2022 through October 2025 and the past 12 months of transfers — and identify payments made to Luma, Genera and fuel suppliers. The chair said the documents should be filed with the committee by Friday at noon and that any confidential items can be reviewed in executive session.
“Para efecto del récord, usted someta esas cuentas que ilustren lo que el UMA deposita en esa cuenta, el cobro de factura luz, si hay alguna otra cuenta que también se deposite, se puede ilustrar, y los pagos que ustedes han emitido,” the chair told witnesses (translation: “For the record, submit the accounts that illustrate what the operator deposits, the billing collections, any other deposit accounts and the payments you have made.”).
The request followed testimony from both camps. Juan Saca, Luma’s president and CEO, told the committee that Luma deposits 100% of collections into AEE accounts and that transfers from the AEE to Luma have been “alarmingly insufficient,” creating liquidity problems that, he said, forced cuts including roughly 160 layoffs and temporary limits on night crews. Luma provided the committee a packet by email Oct. 27, the company said.
AEE and the Authority for Public–Private Partnerships (APP) countered that AEE had provided an initial ‘‘seed’’ of funds when Luma began operations and that Luma has failed to provide full, timely documentation of spending and federal-reimbursement requests. The APP and AEE asked the committee to require Luma to produce more complete accounting supporting its claims.
The committee said it will review the submitted records and reconvene. Members repeatedly asked for reconciled monthly figures so the panel can determine whether a lawful contractual shortfall exists or whether the dispute stems from differences in accounting and the handling of federal reimbursements.
