Exhibit 2

Budget

Case:17-03283-LTS Doc#:2422-3 Filed:02/06/18 Entered:02/06/18 17:21:13 Desc:

Exhibit 2 Page 1 of 2
Puerto Rico Electric Power Authority ("PREPA")

13 Week Cash Flow Model

($ in millions) Actual Actual Actual Actual Actual 1 2 3 4 5 6 7 8 9 10 11 12 13 14

Week ending 12/29 01/05 01/12 01/19 01/26 02/02 02/09 02/16 02/23 03/02 03/09 03/16 03/23 03/30 04/06 04/13 04/20 04/27 05/04 14 Weeks

Receipts

Customer collections 14.3$ 16.5$ 24.6$ 23.5$ 28.5$ 99.2$ 18.1$ 17.9$ 17.2$ 17.8$ 17.6$ 17.7$ 18.6$ 18.8$ 20.8$ 20.9$ 28.0$ 28.0$ 31.2$ 371.8$ 

Transfers from Emergency Account - 47.8 - - - - - - - - - - - - - - - - - - 

Insurance Proceeds - - - - - - - - - - - - - - - - - - - - 

Other - - - - - - - - - - - - - - - - - - - - 

Total Receipts 14.3$ 64.2$ 24.6$ 23.5$ 28.5$ 99.2$ 18.1$ 17.9$ 17.2$ 17.8$ 17.6$ 17.7$ 18.6$ 18.8$ 20.8$ 20.9$ 28.0$ 28.0$ 31.2$ 371.8$ 

Disbursements

Eligible Energy Purchases

Eligible Power purchase - AES 13.7$ -$ -$ 13.7$ -$ 13.9$ -$ 22.6$ 12.5$ 12.5$ -$ 12.5$ -$ -$ 4.8$ 3.6$ 3.6$ -$ 7.6$ 93.6$ 

Eligible Power purchase - EcoElectrica - - - - - - 24.1 - 26.5 - 28.4 - 28.8 - 7.2 7.2 7.2 7.2 6.2 142.9 

Eligible Power purchase - Renewable sources - - - - - - - 11.3 - - - - - - - - - - - 11.3 

Eligible Fuel purchase - Fleet and storage - - 0.4 0.1 - - 3.4 1.5 - - - 1.5 - - - 1.5 - - - 7.9 

Eligible Fuel purchase - Freepoint - 4.6 9.2 4.4 9.0 4.4 9.0 4.4 9.2 4.6 9.6 10.0 23.1 9.6 4.9 22.7 29.0 9.7 16.4 166.4 

Eligible Fuel purchase - Puma 9.6 5.6 12.0 9.8 15.9 14.2 6.4 9.1 7.6 8.7 6.6 9.5 6.8 9.1 2.3 2.3 2.3 2.3 4.6 91.6 

Eligible LNG purchase - Fenosa - - 13.9 - - - 16.0 - - 11.1 - 15.1 4.6 4.6 4.6 4.6 6.3 6.3 6.3 79.4 

Subtotal Energy Purchases 23.3$ 10.2$ 35.5$ 28.0$ 24.9$ 32.5$ 58.9$ 48.9$ 55.7$ 36.9$ 44.6$ 48.6$ 63.4$ 23.3$ 23.8$ 41.9$ 48.3$ 25.4$ 41.0$ 593.1$ 

Other Disbursements

Eligible Estimated Payroll 7.8 - 7.8 - 7.8 - 7.8 - 7.8 - 7.8 - 7.8 - 7.8 - 7.8 - 7.8 54.6 

Eligible Social security 2.8 - 2.5 - 2.4 - 2.0 - 2.0 - 2.0 - 2.0 - 2.0 - 2.0 - 2.0 14.2 

Eligible Payroll taxes 0.6 - 0.6 - 1.8 - 1.1 - 1.1 - 1.1 - 1.1 - 1.1 - 1.1 - 1.1 7.7 

Eligible Contributions to employee benefit programs 5.0 - 5.3 - 5.3 - 5.5 - 5.5 - 5.5 - 5.5 - 5.5 - 5.5 - 5.5 38.5 

Eligible Medical benefit costs 1.0 3.8 9.0 - - 1.8 7.2 - 1.8 - 5.8 - - - 5.8 - - - 5.8 28.2 

Eligible Workers compensation / disability funding - - 3.4 - - - - - 6.0 - - - - - - - - - - 6.0 

Ineligible Estimated Gross Overtime 5.6 - 4.8 - 3.0 - 3.5 - 3.5 - 3.5 - 3.5 - 3.5 - 3.5 - 3.5 24.5 

Ineligible Contract Labor - Title III - - 2.0 - 0.3 1.5 1.5 1.5 1.5 1.5 1.9 1.9 1.9 1.9 1.9 1.9 1.9 1.9 1.9 24.7 

Eligible Contract Labor - Other - - 0.0 - - 0.4 0.4 0.4 0.4 0.4 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 6.8 

Employee Disbursements & Contract Labor 22.8$ 3.8$ 35.4$ -$ 20.6$ 3.7$ 29.1$ 1.9$ 29.6$ 1.9$ 28.1$ 2.4$ 22.3$ 2.4$ 28.1$ 2.4$ 22.3$ 2.4$ 28.1$ 205.1$ 

Other Disbursements

Eligible Insurance premiums - - 0.9 - - - - 0.1 - - - 1.5 - - - 0.3 - - - 2.0 

Eligible Maintenance Disbursements - - 0.6 1.0 1.5 - 3.2 3.2 3.2 4.5 4.5 4.5 4.5 4.5 3.9 3.9 3.9 3.9 4.3 52.0 

Eligible Employee expense reimbursements - - - - - - 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 5.2 

Eligible Additional accounts payable - - 2.6 5.1 3.0 2.8 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 34.0 

Eligible Other 2.3 4.2 (5.3) (1.1) 1.2 3.2 - - - - - - - - - - - - - 3.2 

Subtotal Other Disbursements 2.3$ 4.2$ (1.3)$ 5.1$ 5.7$ 6.0$ 6.0$ 6.2$ 6.0$ 7.3$ 7.3$ 8.8$ 7.3$ 7.3$ 6.7$ 7.0$ 6.7$ 6.7$ 7.1$ 96.4$ 

Total Disbursements 48.4$ 18.2$ 69.6$ 33.1$ 51.1$ 42.2$ 94.0$ 57.0$ 91.4$ 46.1$ 80.0$ 59.8$ 93.0$ 33.0$ 58.6$ 51.4$ 77.3$ 34.5$ 76.3$ 894.6$ 

Net Cash Flow (34.0)$ 46.0$ (45.0)$ (9.6)$ (22.7)$ 57.0$ (75.9)$ (39.1)$ (74.2)$ (28.3)$ (62.4)$ (42.1)$ (74.4)$ (14.2)$ (37.8)$ (30.5)$ (49.4)$ (6.5)$ (45.0)$ (522.8)$ 

Opening Balance 242.2$ 208.1$ 259.9$ 219.9$ 187.0$ 187.5$ 233.8$ 157.9$ 118.8$ 44.6$ 16.3$ (46.1)$ (88.2)$ (162.6)$ (176.9)$ (214.7)$ (245.1)$ (294.5)$ (301.0)$ 187.5$ 

Net Operating Cash Flows (34.0) 46.0 (45.0) (9.6) (22.7) 57.0 (75.9) (39.1) (74.2) (28.3) (62.4) (42.1) (74.4) (14.2) (37.8) (30.5) (49.4) (6.5) (45.0) (522.8) 

Proceeds Transferred to Restricted Accounts - 5.8 5.0 - - (10.8) - - - - - - - - - - - - - (10.8) 

Ending Balance, before Emergency Related 208.1$ 259.9$ 219.9$ 210.3$ 164.3$ 233.8$ 157.9$ 118.8$ 44.6$ 16.3$ (46.1)$ (88.2)$ (162.6)$ (176.9)$ (214.7)$ (245.1)$ (294.5)$ (301.0)$ (346.1)$ (346.1)$ 

Emergency Related

Ineligible Emergency Spend -$ (15.4)$ (9.7)$ (50.3)$ -$ (51.8)$ (25.0)$ (12.5)$ (44.5)$ (44.5)$ (44.5)$ (44.5)$ (12.5)$ (12.5)$ (44.5)$ (32.0)$ (32.0)$ -$ (114.0)$ (514.8)$ 

FEMA Reimbursements - 15.4 9.7 27.0 23.2 51.8 25.0 12.5 44.5 44.5 44.5 44.5 12.5 12.5 44.5 32.0 32.0 - 21.0 421.8 

Subtotal Other Disbursements -$ -$ -$ (23.3)$ 23.2$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ (93.0)$ (93.0)$ 

Ending Balance 208.1$ 259.9$ 219.9$ 187.0$ 187.5$ 233.8$ 157.9$ 118.8$ 44.6$ 16.3$ (46.1)$ (88.2)$ (162.6)$ (176.9)$ (214.7)$ (245.1)$ (294.5)$ (301.0)$ (439.0)$ (439.0)$ 

Privileged and Confidential - Working Draft Subject to Material Change - Professional's Eyes Only - Subject to 

Mediation - Agreement But Not Subject to any Cleansing Obligations Thereunder

Case:17-03283-LTS Doc#:2422-3 Filed:02/06/18 Entered:02/06/18 17:21:13 Desc:

Exhibit 2 Page 2 of 2