JPS customers to get rebate for Petrojam overcharge
KINGSTON, Jamaica — Jamaica Public Service customers are to be repaid for a fuel overcharge by Petrojam this month.
The fuel rebate arises because Petrojam overcharged Independent Power Producer (IPP), Jamaica Private Power Company (JPPC) for fuel purchased to generate electricity. The fuel rebate is to ensure the return of the monies that had been overcharged by Petrojam, and which had been reflected on customers' bills.
JPPC is one of the private power companies from which JPS purchases electricity sold to customers. All costs associated with the electricity produced by these companies are passed on to customers.
The Office of Utilities Regulation (OUR) has determined that the overcharge by Petrojam is to be refunded to JPS customers during the month of August.
"The Regulator, having been made aware of the error in billing which occurred between Petrojam and JPPC, directed that Petrojam should refund the amounts overcharged and the only way customers can benefit is by way of the reduced fuel charge on their electricity bills for the month of August," a release from the OUR stated.
The one-off rebate of about $343 Million, inclusive of $73 Million in interest at a rate equivalent to that applicable to customer deposits. Customers should note that this is a one-off rebate and will not extend to subsequent billing months.
The OUR will also conduct an audit of the Fuel Management Systems at all power generation facilities and will retain a consulting firm to do this audit.