About the Government Board
Under the law Num.83 of May 2, 1941 as amended, the Puerto Rico Electric Power Authority (PREPA) was created as a corporate and political entity that constitutes a Public Corporation and government instrument, to be an autonomous institution from the Commonwealth of Puerto Rico. The aforementioned law dictates that PREPA will be subject to control by its Governance Board which will determine general policy and how the powers of PREPA will be exercised.
Board Organization and Composition
According to law 83, the Board is comprised of seven (7) members. Furthermore, under Law 2-2017, a representative from the Authority of Financial Oversight and the Fiscal Agency of Puerto Rico will be added as a member of the Board, who will be designated by the agency director.
Three (3) members will be appointed by the Governor of Puerto Rico at his/her own discretion, of whom one (1) will be an independent member.
One (1) member will be representing the interests of the customers and is elected by a supervised election by the Office of the Ombudsman.
The remaining three (3) members will be appointed by the Governor of Puerto Rico, with the council and consent of the Senate, and should be elected from a list of candidates prepared by a recognized firm that is dedicated to the search and hiring of executive human resources.
All of the members, with the exception of the two elected by the Governor at his/her sole discretion, must comply with educational, professional and experience background requirements, or must, at least, have technical expertise on energetic matters. Furthermore, none of the independent members can be a government employee, except for being a Professor at the University of Puerto Rico.
Members will receive a base monthly compensation of $5,000 plus additional compensation for positions like President ($833.33/Month), Vice-president ($583.33) and Commitee President ($416.66). This, with the exception of member of the Board that are employees of the Government of Puerto Rico, who will not receive compensation, except for expense reimbursements.
The two (2) members appointed by the Governor at his/her sole discretion that are not independent member will hold positions for terms dictated by the Governor and might be substituted by him/her at any moments notice. The rest of the members will hold positions for terms of five (5) years.
The Board is comprised of a President and a Vice-president both elected by the members. The President of the Governing Board will lead all meetings and will designate the committees he/she deems necessary, as well as the participating members that will participate on each committee. Also, the members will designate a Secretary and an Auxiliary Secretary of the Board.
The Board also designates the following principal officials of PREPA:
The Board will hold regularly scheduled meetings once a month. If the President of the Board or the Executive Director requests an additional meeting, then the President can convene special meetings.