About the Government Board
By virtue of Act No. 83 of May 2, 1941, as amended, the Electric Power Authority (Authority) is created as a corporate and political body that is constituted as a Public Corporation and autonomous governmental instrumentality of the Commonwealth of Puerto Rico. The aforementioned law provides that the Authority will be subject to the control of its Governing Board (Board), and it will be this board who will determine the general policy and how the powers of the Authority will be exercised.
According to the provisions of Law 83, the Board will be composed of seven (7) members. In addition, under Act 2-2017, a representative of the Financial Advisory Authority and Fiscal Agency of Puerto Rico (AAFAF) will be added as a representative member of the board, who will be appointed by the director of this agency.
Three (3) members will be appointed by the Governor of Puerto Rico at his sole discretion, of which one (1) will be an independent member.
Another (1) member will represent the interests of the clients and will be elected through an election supervised by the Office of Consumer Affairs.
The remaining three (3) members will be appointed by the Governor of Puerto Rico, with the advice and consent of the Senate, and will be selected from a list of candidates prepared by a recognized firm dedicated to the search of executive talent.
All members, with the exception of two of those will be elected by the at his sole discretion, must meet criteria of educational background, professional and experience or must have proven expertise in energy issues. In addition, none of the independent members may be public employees, except for being a professor at the University of Puerto Rico.
All members will receive a base monthly compensation of $5,000, plus additional compensation for assigned position, such as President ($ 833.33 monthly), Vice President ($ 583.33) and Chairman of Committees ($ 416.66). This, except for Lic. Gerardo A, Lorán Butrón and Omar J. Marrero Diaz, who are members of the Board currently employed by the Government of Puerto Rico, and, thus, will not receive any compensation, except for the reimbursement of expenses.
The two members appointed by the Governor, at his sole discretion and who are not independent members, shall hold office for the terms established by the Governor and may be replaced by the Governor at any time. The remaining members will have a term of five (5) years.
The Board is composed of a President and Vice President elected by its members. The President of the Governing Board shall preside over all meetings of the Board and shall designate the committees of the Board that he deems necessary, as well as designate its members. In addition, the Board shall appoint a Secretary and an Assistant Secretary.
The Board also designates the following principal officers of the Authority:
- Executive Director
- Deputy Executive Director
- None of the officers will be a member of the Governing Board.
The Board holds Regular monthly Meetings. If the President of the Board or the Executive Director requires any additional meeting, then the President may convene Special Meetings.