Jamaica Has 3rd Lowest Electricity Rates in the Caribbean – JPS
President & CEO of the Jamaica Public Service Company (JPSCo), Kelly Tomblin, recently made an announcement that many might find surprising.
According to Tomblin, Jamaica now has the third lowest electricity rates in the Caribbean, behind only Trinidad and Belize.
She attributed this to ongoing reductions in energy costs.
“The cost of electricity is now 30 per cent lower than it was a year ago. We continue to pass on the savings from lower fuel prices to our customers, who are also benefiting from the fact that our generating units are using less fuel to produce each megawatt of electricity. Last year, JPS invested J$3.6 Billion in power plant maintenance, resulting in the best plant efficiency in the Company’s history,” she reportedly stated.
“Fuel diversity is absolutely essential, in order to ensure price stability, energy security and sustainability. We believe that now is actually the best time to make the switch to natural gas, when we can afford it, to protect ourselves from oil price volatility. JPS expects to have our Bogue plant running on natural gas before the end of the year, and, so far, we are on target to build our new 190 MW gas-fired plant in Old Harbour Bay by 2018. The introduction of natural gas will also allow for the more efficient integration of renewables on the grid, which is an important component of our plan to provide Jamaica with cleaner energy,” added Tomblin.
She also indicated that despite the lower oil prices being enjoyed now, it is still vital for Jamaica to press ahead with fuel diversification.
Source: Jamaica Star
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