OUR Makes Decisions on JPS 2019-2024 Tariff Application
(KINGSTON, Jamaica; 2021 January 29): The Office of Utilities Regulation (OUR) has issued its decision on the Jamaica Public Service Company Limited’s (JPS’) 2019-2024 Tariff Application, which is the first five-year review to be undertaken under the revenue cap regulatory regime.
The OUR’s decisions, captured in its Determination Notice dated 2020 December 24, shows an average overall decrease of 3.2% in electricity rates based on the estimated Independent Power Purchase (IPP) costs presented in the Tariff Application. However, the application of the current actual IPP costs as indicated in an Addendum to the Determination Notice dated
2021 January 29, shows an overall increase of approximately 0.8%. With this marginal increase, customers will see significant variation in actual rate changes within and across customer classes, depending on such factors as the customer’s consumption pattern and demand profile. The OUR approved rates, as shown in the Table below, became effective 2020 December 28 and is expected to be reflected in bills payable in 2021 February for consumption in 2021 January.