This Notice of Proposed Rulemaking (NPRM) is a consultative document which sets out, and invites comments, on the guidelines that should be applied to accounts separation in the Jamaican electricity sector. These guidelines are in keeping with the provisions of the Electricity Act, 2015 (the Act) and the Electricity Licence, 2016 (the Licence) under which the Jamaica Public Service Company Limited (JPS) operates. Section 46 of the Act stipulates that the ‘Single Buyer’ of electricity on the national grid, that is JPS, shall keep separate and distinct accounts for its transactions in the generation, transmission, distribution and supply of electricity. Furthermore, the Licence specifies that such accounts should conform to the criteria promulgated by the Office of Utilities Regulation (OUR/Office) and shall be consistent with generally accepted accounting principles and industry best practice.
This NPRM outlines the legal basis for the accounts separation, identifies the methodological approach and principles applicable, and lays out the scope of activities that are required in the preparation of the accounts.
Stakeholders and other individuals with an interest in contributing to the design of the accounts separation framework may do so by providing feedback on this document.
On receiving and evaluating the responses, the OUR will make a determination on the form, elements and content that should be included in the Accounts Separation Guidelines to be issued to JPS.