Executive Summary
Introduction
The current filing is a submission by JPS under the Electricity Licence, 2016 (“Licence”) for an annual adjustment under the Performance Based Rate-making Mechanism (“PBRM”) and is the Company’s first application for rates adjustment following the conclusion of the 2019-2024 Rate Review Process under the new forward looking revenue cap regime.
The 2019-2024 Rate Review Determination Notice (“Final Determination”) is the first OUR determination approving JPS’ five-year Revenue Requirement, revenue caps, capital plan, demand projections and performance targets on a forward-looking basis. In addition to being the first Rate Review proceeding based on a forward-looking basis, the 2019-2024 Rate Review also took place amid an unprecedented pandemic which disrupted economic and social interactions impacting every business and individual across the world.
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