JPS gets second bite of rate increase cherry

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JPS gets second bite of rate increase cherry

Friday, January 24, 2020

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KINGSTON, Jamaica— The Office of Utilities Regulation (OUR) has now accepted the request for a rate increase from the Jamaica Public Service Company (JPS).

The JPS 2019-2024 Tariff Application was re-submitted to the OUR on December 30, 2019.

On August 16, 2019 the OUR wrote to JPS, indicating it was rejecting its 2019-24 Tariff Review application because of material deficiencies including the absence of critical information and supporting documentation.

The JPS was invited by the OUR to resubmit its application when the identified deficiencies, and any items requiring further clarification or additional information had been rectified and/or addressed.

Last week the OUR accepted the application following a preliminary examination.

The OUR now has 120 days, that is, by May 12, to review the application and issue its decisions.

The JPS's detailed application includes a raft of proposals, with the company seeking approval of an annual average revenue requirement of J$62.1 billion (US$485.2 million) in real terms over the five-year review period.

According to JPS, if the tariff application is accepted, customers would see an average increase in overall rates of 4.69 per cent, subject to annual reviews. The average impact will vary by customer class, as well as within customer class, depending on consumption and choice of tariff.

Based on JPS's proposal, residential customers would see the largest increase (17.14 per cent) while large industrial/commercial customers (on the time of use option) would register a reduction of 14.06 per cent.

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