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Old 03-05-2020, 06:03 PM
 
Location: Philly
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https://www.caribjournal.com/2020/03...-strong-month/
Quote:
Puerto Rico’s primary air hub, Luis Munoz Marin International Airport in San Juan, reported 792,317 passengers in February, which represented a 16.1 percent increase compared to the same period in 2019.*
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Old 03-23-2020, 01:09 PM
 
Location: Philly
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https://caribbeanbusiness.com/live-p...omic-measures/
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Old 04-20-2020, 12:49 PM
 
Location: Philly
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I gotta figure this oil price collapse is an unexpected windfall for prepa who is unusually dependent on oil. does anyone know if they are buying excess oil for storage?
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Old 04-20-2020, 01:33 PM
 
Location: On a Long Island in NY
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Quote:
Originally Posted by pman View Post
I gotta figure this oil price collapse is an unexpected windfall for prepa who is unusually dependent on oil. does anyone know if they are buying excess oil for storage?
I was just thinking about this the other day!

I saw a news article about the declining oil prices and I thought "I hope PREPA is taking advantage of this".
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Old 05-08-2020, 09:29 AM
 
Location: Philly
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https://markets.businessinsider.com/...0-5-1029182471

https://decrypt.co/26245/puerto-rico...more-expensive

only time will tell whether this new tax is well timed or penny wise pound foolish (a few million more per year at the expense of shrinking the share of the industry which doesn't have any particular need to be in PR). obviously, the right answer is to have an environment competitive enough special deals aren't necessary but that doesn't seem to be in the cards.
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Old 05-08-2020, 12:42 PM
 
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Maybe that's part of the deal. The governor et al might not like the industry for PR. Could be a moral issue and not economic.
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Old 05-09-2020, 09:40 AM
 
Location: Philly
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Quote:
Originally Posted by AntonioR View Post
Maybe that's part of the deal. The governor et al might not like the industry for PR. Could be a moral issue and not economic.
Should be communicated but that would be an odd morality. The more likely explanation is revenue, of course, the government has long been penny wise pound foolish. Fixed fees are usually not great policy and certainly there's no reason to give the benefit of the doubt
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Old 05-09-2020, 09:52 AM
 
Location: Philly
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Quote:
Originally Posted by WIHS2006 View Post
I was just thinking about this the other day!

I saw a news article about the declining oil prices and I thought "I hope PREPA is taking advantage of this".
finally came across something on it
Quote:
The island currently has about 2,700 MW of generation available, with demand peaking around 2,200 MW. And repaired generation coming online this summer could push the reserve margin to 1,000 MW.*...Peak demand is currently 9-10% lower than average due to the COVID-19 shutdown, and fuel prices have declined about 50%, Ortiz said....In addition, customers will likely see a decline in electricity costs, due to significant drops in oil prices. PREPA is billing about $0.216/kWh in April, said Ortiz, but that was based on February fuel costs. From June on, customers should see prices "way lower" than $0.20/kWh, he said..Due to the coronavirus, the interconnection process "is stopped temporarily.....
https://www.utilitydive.com/news/cra...erto-r/576502/

Seems like not allowing the interconnections to occur is foolish. One might also wonder whether the windfall should be put into making the system more resilient than lower rates unless the rates can stay lower for the foreseeable future. Obviously the biggest problem seems to be non payment which is eroding whatever windfall it gets but at least they have some breathing room
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Old 06-30-2020, 12:11 PM
 
Location: Philly
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Quote:
– Puerto Rico’s Financial Oversight and Management Board announced Friday that it has certified the fiscal plan for the Municipal Revenue Collection Center (CRIM by its Spanish acronym), adding it will help the entity to maximize property tax revenue and guarantee the effective distribution of these funds among the 78 municipalities...Identification and appraisal of new properties: CRIM identified more than 230,000 of new properties whose owners have not paid taxes.

• Improvement in the property tax collection rates: CRIM targets to increase property tax collection rate from 68% to 76%.

• Adjust the value of more than 500,000 homes that made improvement not currently reflected on the tax rolls. ..“These measures would add approximately $514 million to CRIM’s revenue in the coming fiscal year 2021 alone, and more than $1.5 billion over the Fiscal Plan’s forecasting period between fiscal year 2021 and 2025. Without implementing the measures, CRIM’s revenue would decline from projected $1.2 billion in the current fiscal year of 2020 to $1.1 billion by fiscal year 2025,” the board assured.
https://caribbeanbusiness.com/certif...sive-overhaul/
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Old Today, 04:18 PM
 
Location: Philly
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https://www.caribjournal.com/2021/04...affic-rebound/
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