Jamaica’s Electricity Rates Lowest in 5 Years

Electricity rates in Jamaica have reached a five-year low.

This after the Jamaica Public Service Company (JPS) enacted a four per cent reduction in price this month.

The reduced cost was made possible by the procurement of cheaper oil.

The JPS has reduced its fuel and IPP costs for residential entities by more than 11 per cent.

The average residential customer is now paying the cheapest cost for electricity since late 2010.

At current levels, residential customers are paying US$0.20 per kilowatt hour for electricity, which is about half the level paid two years ago.

Some businesses are paying as low as US$0.16 for each kilowatt hour used.

Source: RJR News

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