JPS Seeks to Raise Electricity Rates for Residential Customers

The Jamaica Public Service Company (JPS) has requested a rate increase, according to a statement from the Office of Utilities Regulation (OUR).

This application is for the annual tariff adjustment in 2023, as outlined in the Electricity Licence 2016.

If approved, residential customers would pay 0.8% more for electricity, while some commercial customers may see a slight increase of 0.2%.

However, other commercial and industrial customers could see a reduction of more than 2.3%. These changes would take effect from July 1.

The JPS has set a target revenue of $55.1 billion for 2023, and the tariff adjustment request is aimed at realigning electricity rates according to the performance-based rate-making mechanism specified in the licence, according to the OUR.

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