JPS Seeks Electricity Rate Increase
The Jamaica Public Service Company (JPS) is now seeking an increase in electricity rates, which, if approved, will result in the average residential and small business customer’s electricity bill increasing by 2.8 per cent.
The new rate structure would result in bills for larger customers being increased by between one and two per cent.
In the most recent rate review application, the JPS asks the Office of Utilities Commission (OUR) to set its non-fuel revenue target for the next 12 months at just under $51 billion.
While proposing an increase for the majority of its customers, the JPS has also asked the OUR to allow it to create a new rate class for its largest customers.
The new rate class, if approved, would see mega-size customers realising an average 21 per cent reduction in their bills.
The JPS hopes that reducing the rates for its biggest customers will deter them from going off the grid.
According to the JPS, if its biggest customers defect and set up their own off-grid power supply, the remaining JPS customers would be required to pay even higher electricity bills.
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