Puerto Rico Electric Power Authority (PREPA)

FEP sent a team to Puerto Rico in 2017 immediately after hurricanes Irma and Maria. FEP’s engagement as the Chief Financial Advisor to PREPA evolved to provide strategic leadership across all aspects of utility operations. FEP assisted PREPA and other Puerto Rico stakeholders with the implementation of fiscal controls and governance, identifying and implementing operational cost savings, development of recovery and reconstruction plans, and implementation of corporate-wide operational efficiency initiatives including:

Coordinated and led disaster recovery efforts between PREPA, the Federal Emergency Management Agency (FEMA), and the US Army Corps of Engineers (USACE).
Implemented fiscal controls and led PREPA’s interactions with Title III creditors and the Financial Oversight and Management Board (FOMB) for Puerto Rico.
Performed condition assessments on all PREPA generation infrastructure assets leading to the development of a prioritized recovery plan.
Developed economic dispatch models and transmission constraint models designed to drive the prioritization of recovery and maintenance expenditures.
Assisted in collaborating with the Governor’s Office to craft policy addressing the future of PREPA.
Assisted PREPA in the development of RFPs for renewable resources.
Assisted in the development and provided expert testimony in support of new fuel initiatives and an Integrated Resource Plan (IRP) to PREPA’s regulator, the Puerto Rico Energy Bureau (PREB).

Developed and led a corporate-wide operational and cost improvement effort, called Work Plan 180, that resulted in the development of a multi-year business plan reducing projected costs and improving organizational efficiency.
Developed a contract management program for PREPA’s newly created Project Management Office and provided implementation leadership.
Provided leadership and subject matter experts to the Central Office for Recovery, Reconstruction, and Resiliency (COR3), and led numerous procurement initiatives with the Puerto Rico Public Private Partnership Authority (P3).
Assisted in developing a vegetation management program that met the approval of both federal and local agencies.
Led the construction completion of new generation on Culebra - generation capable of providing emergency resources for both Vieques and Culebra.
Helped develop plans for transforming the PREPA grid into resilient power infrastructure to withstand environmental disasters.
Provided US congressional testimony support.

Services Provided

Interim Management and Restructuring Support
Power Market and Economic Dispatch Analyses
Power Plant Permitting and Construction
Integrated Resource Plan Development
Independent Engineering & Technical Due Diligence