The Office of Utilities Regulation (OUR) has purportedly saved consumers nearly $10-billion on their Jamaica Public Service Company bills.
This, after the United Kingdom based Privy Council earlier this month, rejected an appeal from JPS to bill consumers for the cost of an employee reclassification exercise in 2008.
JPS had filed a claim on March 11, 2009, seeking approval from the OUR to recover over 4-billion dollars incurred for salary payments to employees and related taxes, by way of a tariff adjustment.
However, the OUR rejected the application. The JPS then appealed the decision to the All-island Electricity Appeal Tribunal, as well as the Supreme Court and Court of Appeal. Both appeals were dismissed. The JPS then sought leave to appeal to the Privy Council, which dismissed it.
In a statement yesterday, the OUR says had the JPS been successful in its appeal, customers would have had to repay the $4-billion plus interest from 2010 to 2017 at a rate of 12.6-percent.
It estimates that this would have resulted in consumers having to repay a total of $9.78-billion to date.