JPS Ordered to Issue Nearly $1 Billion Refund to Customers
The Jamaica Public Service Company (JPS) may soon have to issue a hefty refund to its customers.
According to Irie FM, the power company has been ordered to refund almost $1 billion to its customers.
The order was given by the Office of Utilitiess Regulation (OUR) based on its findings, that the light and power company imposed the figure as foreign exchange adjustments on fuel supplied by Petrojam from March to December 2013.
The OUR says the company acted without the knowledge of the regulator.
The directive, which is effective February 16, 2015, was issued following consultations with JPS for a total of $973 million.
JPS has seven days in which to present details of how it proposes to effect the repayment including the commencement day by which the refund will be made to customers.
Customers are to be fully refunded within six months of the effective date of the directive.
The OUR had requested clarification from the JPS regarding the inclusion of a line item called “FX ADJ on Petrojam fuel” in the fuel oil statements for the relevant period.
During the period, this impacted The Fuel and IPP Charge which appears as a line item on customers’ bills.
The OUR, having received JPS’ explanation for making the adjustments, considered the matter and concluded that JPS had no authority under the existing regulatory framework to unilaterally impose the additional costs on customers.
Source: Irie FM
Crooks ,they should pay people for their pain and suffering as well,wickedness to poor people.
how will it be paid retroactively?
Actually they owe more due to the fact that when they increased their rates everything else went up costing consumers more so how will they be compensated for those increases
Finally someone in authority has verified what the citizens have been stating for years! The ruling will likely be appealed.
When they say pay back they only mean you will see a reduction in your light bill.
No physical check will be given
They will a credit towards their account but no physical check… still a loss for the customers. ….
How come JPS? Isn’t this theft?
We want back we money now #
They have been doing this for some time. the amount the have to pay back is minimal to what they profited. NOW ITS TIME TO GET DIGICEL…