News

JPS to refund customers $343m in overages

Balford Henry

Wednesday, August 01, 2012    

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CUSTOMERS of light and power company Jamaica Public Service (JPS) should see a reduction in the fuel charge on their bills for the month of August.

The reduction comes from a directive of the Office of Utilities Regulation (OUR) which found that customers had been overcharged for fuel.

“The [OUR] has directed that customers of the Jamaica Public Service Company Limited (JPS), during the month of August, benefit from a rebate of fuel charges for which they had been overcharged over an extended period,” said a release from the regulatory body yesterday.

The OUR did not say for how long customers were overcharged, but added that “the one-off rebate of approximately J$343 million is inclusive of J$73 million in interest charges”.

“This rebate is occasioned as a result of an overcharging on the price of fuel supplied to an independent power producer by Petrojam,” the OUR stated.

The OUR explained that when the pricing error came to its attention, “all parties concerned were summoned and the regulator directed that JPS customers should be refunded the amount overcharged and that an interest equivalent to that applicable to customer deposits be applied”.

“Electricity customers should note that this is a one-off rebate and will not extend to subsequent billing months,” the OUR said.

Meanwhile, the OUR is in the process of retaining a consulting firm to conduct an audit of the fuel management systems at all power generation facilities.

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