Customers of light and power company, the Jamaica Public Service (JPS) will see marginal movements in their electricity bills effective this month.
That’s according to the Office of Utilities Regulation, OUR. In a statement yesterday, the OUR says residential customers as well as small and medium-sized business customers are to see a less than half of a percent increase in their bills.
It says medium to large high-volume consumption businesses will see a half of a percent or less decrease in their bills.
The OUR says the moves in what customers will be charged this month are inclusive of fuel and Independent Power Producers’, IPP, charges.
According to the OUR, the new rates took effect on October 1 and will reflect in customers’ bills after that date.
The new rates follow the OUR’s approval of JPS’s 2018 Annual Review and Extraordinary Rate Review application.
Meanwhile, the OUR says the fuel rate component of the bill will see a marginal decrease as JPS is to refund $1.1-billion through the fuel rate adjustment mechanism, over the 2018-2019 tariff period.
This is as a result of unapproved foreign exchange adjustments that were made by JPS in prior periods.
And, the OUR accepted JPS’s proposal for the setting-off of capital expenditures incurred under its Smart Streetlight Programme, SSP.
This is the third annual review conducted under the Electricity Licence, 2016.
In addition to annual reviews, the Licence also makes provision for the conduct of Extraordinary Rate Reviews owing to exceptional circumstances that have a significant impact on the electricity sector and/or JPS.