(a) In general.— No sale, acquisition, or merger of electric power companies or the facilities thereof shall be completed if the Commission does not issue a certification stating that such transaction is consistent with the Energy RELIEF Plan, the integrated resource plan, and the best interests of Puerto Rico, and does not involve the capture or control of electric power services by an electric power service company or the creation of a monopoly over electric power services by a private electric power service company.
(b) The Commission shall adopt regulations to specify the form, contents and procedure to file and evaluate applications for certification under this section.
(c) The Commission shall evaluate applications based on the size of the facility or facilities subject to the transaction, its generation capacity, the impact of such transaction on the electric power industry and electric power customers, and any other parameter that the Commission may deem necessary, according to the best practices in the electric power industry, to conduct an objective and transparent evaluation of the application.
(d) The Commission shall adjudicate on the merits every request for authorization filed under this section within one hundred eighty days (180) days after the filing thereof. The Commission shall treat the process to address and evaluate applications for certification as an ex parte formal adjudicative procedure, governed by the provisions of §§ 2101 et seq. of Title 3, known as the “Uniform Administrative Procedures Act”, and the regulations adopted by the Commission.
History —May 27, 2014, No. 57, § 6.36; renumbered as § 6.35 on Feb. 16, 2016, No. 4, § 27.