The Office of Utilities Regulations has acted somewhat in the favour of JPS after they decided to approve a 1.4 percent increase, in the bills of customers. The decision was made at the OUR’s 2021 Annual Review after the public service company had submitted their application on May 5, 2021, for a 3.5 percent increase.
JPS did not get their expected 3.5 increase nonetheless, they still got the opportunity to raise their prices and this new increase is said to be effective starting October 2021.
The OUR at their annual meeting also highlighted that the light and power company owes an amount of 297.1 million dollars in Net over-recovery balance, and has been given a 10 month period to repay the amount by applying a $0.113 reduction for every KWh where it concerns non-fuel tariff.
The Office of Utilities Regulation also decided that there will be a revision of the Time Of Use, as it related to residential homes and small commercial businesses that they have named rate 10 and rate 20, for the best revenue interest of JPS.
Other adjustments were decided on at the annual meeting which will be affecting things such as; energy rates for electric vehicles as well as JPS’s heat rate target.
According to the new charges implemented by OUR, a thirty-day cycle of consumption for rate 10 customers will be “J$13.85/kWh for the first 117kWh”, and will pay J$21.03/kWh for every added kWh within the 30 day consumption period.
Where rate 20 customers are concerned they will be required to pay J$122.45/kWh for the first 10 KWh, while for any additional KWh within the 30-day cycle they will need to pay J$9.03/kWh.
Both rates, according to the news by the Jamaica Observer, will be displayed on customers’ bills. JPS will also be having their customers educated in detail very soon, about their new Time of use (TOU) program.