Business
LUMA achieves historic milestone as it begins operating Puerto Rico's electricity system
LUMA achieves historic milestone as it begins operating Puerto Rico's electricity system ...
About this update from Canadian Utilities Limited Class A
[{"type":"text","content":"\n \n \n \n LUMA achieves historic milestone as it begins operating Puerto Rico's electricity system\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n June 1, 2021\n \n /CNW/ -\n \n ATCO Ltd.\n \n (TSX: ACO.X) (TSX: ACO.Y) /\n \n Canadian Utilities Limited\n \n (TSX: CU) (TSX: CU.X)\n \n \n \n \n \n \n \n \n \n ATCO Ltd. today announced LUMA Energy LLC (LUMA) has commenced its 15-year contract to modernize and operate\n \n Puerto Rico's\n \n electricity transmission and distribution system. By transforming the operations of the island's 30,000-km electricity system, damaged by hurricanes in 2017, the highly skilled employees of LUMA are committed to providing Puerto Ricans with improved quality of life and increased economic development for generations to come.\n \n \n \"Undertaking this transformation is a big job with an even bigger benefit. LUMA will provide Puerto Ricans with something many of us take for granted: safe and reliable power,\" said\n \n Nancy Southern\n \n , Chair & Chief Executive Officer, ATCO. \"It's also about creating a stable, resilient, and modernized electric system that will be a key driver of economic growth - allowing businesses in\n \n Puerto Rico\n \n to operate reliably, and contribute to the island's economy, which in turn provides Puerto Ricans with meaningful employment.\"\n \n \n The handover of operations from the Puerto Rico Electric Power Authority, which is in bankruptcy, occurs after a transition period during which LUMA completed countless regulatory, operational, safety and financial planning and readiness activities. LUMA also hired 2,200 employees to help create a resilient electricity delivery system for Puerto Rico.\n \n \n \"ATCO and our partner Quanta are very pleased with the thoughtful, detailed planning and operational readiness the talented LUMA team has put in place to undertake this new chapter of electricity system operations in\n \n Puerto Rico\n \n ,\" said\n \n Siegfried Kiefer\n \n , President & Chief Executive Officer, Can...