Greenbriar Sustainable Living Inc V.GRB

A new filing has been submitted to PREB

[SvenVandeBroek]

A new filing with the title JOINT INFORMATIVE MOTION CONCERNING SETTLEMENT AGREEMENT NEGOTIATIONS has been posted to the Electronic Filing System of the Puerto Rico Energy Board (PREB):

https://radicacion.energia.pr.gov/case/2444

https://ibb.co/1m3DVfS


___________________________________________________________

Summary / my take IMHO:

The new filing before the PREB mentions PREPA’s determination to accept PBJL’s settlement proposal on the Montalva solar farm project.

Both parties (PREPA and PBJL) now request until October 3, 2023, to submit the executed settlement agreement

before the Energy Bureau (PREB).

Subsequently, PREPA will submit the resulting draft power purchase and operating agreement (PPOA) for the Energy Bureau’s  (PREB) review and approval.

After that, it's up to the Financial Oversight and Management Board for Puerto Rico (FOMB) to consider an official approval for Montalva.

 

Earlier (in May 2020), PBJL received a go from PREPA and PREB, but the FOMB didn't do the same.

 

PBJL then filed a complaint against PREPA before the Energy Bureau (PREB) in April 2021. This led to the current settlement negotiations between PBJL and PREPA. These negotiations are now nearing a positive conclusion.

This is very good news for Montalva, but also keep in mind that we're once again close but just not there yet. However, we will be, if the FOMB gives their go within the next few months.

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Here's a copy of the PDF that was filed:
https://ufile.io/wy0qhb3s


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Here's the copy/pasted text from that filing:

GOVERNMENT OF PUERTO RICO

PUBLIC SERVICE REGULATORY BOARD

PUERTO RICO ENERGY BUREAU

 

PBJL ENERGY CORPORATION

 

Petitioners

v.

 

PUERTO RICO ELECTRIC

POWER AUTHORITY, et al.

Respondents

 

CASE NO.: NEPR-QR-2021-0026

 

SUBJECT: Joint Informative Motion

Concerning Settlement Agreement

Negotiations

 

JOINT INFORMATIVE MOTION CONCERNING

SETTLEMENT AGREEMENT NEGOTIATIONS

 

COMES NOW, the Puerto Rico Electric Power Authority (“PREPA”) and PBJL Energy

Corporation (“PBJL”)1

 

, through the undersigned counsel and respectfully submit and request as

 

follows:

1. On August 23, 2023, the Energy Bureau of the Puerto Rico Service Regulatory

Board (“Energy Bureau”) ordered the Parties to inform the status of the negotiations undertaken

to settle the case of caption by September 1, 2023. The Energy Bureau warned that failure to inform

the case status would result in the complaint being dismissed for lack of interest (“August 23

Order”).

2. On August 30, 2023, the Parties filed a motion titled Joint Request for Extension of

Time to Inform Status of Settlement Agreement Negotiations in Compliance with the August 23

Order, whereby the Parties informed the Energy Bureau that after an impasse in the negotiations,

followed by a period of time where PREPA was focused on the reorganization ahead of Genera’s

 

1 PREPA and PBJL, herein referred to as “the Parties”.

 

NEPR

Received:

Sep 12, 2023

6:26 PM

 

2

 

July 1, 2023, Commencement date, and the resulting changes in PREPA’s employee composition,

PBJL and PREPA had resumed the settlement negotiations.
 

3. PREPA informed that its management had scheduled a meeting to evaluate PBJL’s

most recent communication and settlement proposal, received on August 25, 2023. The referenced

meeting was held yesterday September 11, 2023, and it was PREPA’s determination to accept

PBJL’s Settlement Proposal.
 

4. Considering the foregoing, the Parties require an additional extension to draft a

settlement agreement that is satisfactory to both parties and respectfully request an additional

fifteen business (15) days, until October 3, 2023, to submit the executed settlement agreement

before this Energy Bureau. Subsequently, PREPA will submit the resulting draft power purchase

and operating agreement for the Energy Bureau’s review and approval.
 

5. As before, all efforts and proceedings related to the Settlement Proposal are

made under Puerto Rico Rule of Evidence no. 408.

 

WHEREFORE, the Parties respectfully request the Honorable Energy Bureau to take notice of

the aforementioned, and grant until October 3, 2023, to submit the settlement agreement before

the Energy Bureau.

In San Juan, Puerto Rico, this 12th day of September 2023.

 

s/ Joannely Marrero Cruz

Joannely Marrero Cruz

[e-mail]

TSPR No. 20,014

 

3

 

DAZ & VZQUEZ LAW FIRM, P.S.C.

 

290 Jess T. Piero Ave.

Oriental Tower, Suite 803

San Juan, PR 00918

Tel. [phone]

Fax. [phone]

Counsel for PREPA

 

CARLOS R. SOSA PADRO LAW OFFICE

PO Box 191682

San Juan, Puerto Rico 00919-1682

Tel.: [phone]; Tel/Fax: [phone]

[e-mail]

s/Carlos R. Sosa Padr

Carlos R. Sosa-Padr, Esq.

 

De Guzmn Law Offices

P.O. Box 362738

San Juan, PR 00936-2738

Mobile [phone]

Ph.[phone] Fax [phone]

[e-mail]

TSPR (RUA) No. 6370

USDC-PR No. 205112

s/Guillermo F. De Guzmn-Vendrell

Guillermo F. De Guzmn-Vendrell, Esq.

Counsels for PBJL

[tylerreddick]

That does look like pretty good news, and could be considered material. If so, it should have been released in a public NR today, not in a private email to only certain individuals yesterday. JMO Regardless, it does make GRB a little more interesting today.

[niizijim]

What e-mail?  Who got a special e-mail?

[shneps]

Thanks for posting the information Sven. Particularily in full context. Hard to believe this first step has had to take over 2 1/2 years just for a potential settlement agreement. It will be interesting to see the final negotiated pricing considering PBJL's last proposed pricing was in the $0.088/kwh (or so range) compared to the original $0.15/kwh with inflation accelerators. The videos have