PREPA MeetingAll ...
We had Luis Baco and Mike Boyd attend the visual teleconference today at 5am PST.
Luis Baco is our head lobbyist, main lawyer and Former Chief of Staff to the Resident
Commissioner. His Brother-in Law and best friend is Chief of Staff to the current Governor
He resides in Washington, DC so the meeting was 8am for him.
Only 19 people clicked in on the meeting.
Only 4 minutes was discussed on renewables. PREPA claimed to have the ranking list.
It appears they will not share the findings with the public now.
They said they were discussing the findings and would release for full approval to the board next
month for the first 150MW. The said the remaining 450MW would re-bid through an RFP.
Luis Baco has NOT heard from anyone at all and from every political office, that we are not number #1.
As per our public 86 page report, we have the lowest cost of energy, highest production, therefore cheapest energy cost of all the projects, (Everyone else is 10.0 or 9.9. We are 9.85)
We are the only ones with batteries dedicated to storgage (186 Mwh - which is massive) which means we are the only project to provide power at night, and we use up 38% less transmission per MW of capacity, which means we use a lot less transmission, which is hard to find and expensive, adding further multi-million dollar savings to PREPA. For PREPA to alter the report, which it will do because of their political nature, there is no mathematical, business, or engineeing principals on how they could rate us less than number #1. I am certain there is politics on the rest, because the rest have the same metrics. As soon as we hear information as to any movement, I will let the shareholders know.
Luis also attended a recent Chamber of Commerce meeting with the new Governor-elect, and he stated that he will request the FOMB to exceed the 150MW limit, so that tells me the reason for the delay, as politicians now back-channel with the FOMB for the increase. That is beyond the scope of PREPA, and up to the elected officials to make the moves with the FOMB.
I am buying another 10,000 today
Best
Jeff