THE Jamaica Public Service (JPS) says electricity consumers are now paying US 25 cents (J$14.47) per kilowatt-hour (kWh), which the light and power company said is the lowest electricity rate since 2010.

“The dramatic reduction in overall energy cost is due to lower fuel charges, as well as the improved efficiency of the JPS generating units,” the company said in a press release Tuesday.

The lower fuel charge, said the JPS, will result in an average seven per cent reduction in electricity cost for residential customers this month.

“Our number one goal this year is to lower our customers’ energy bills. While we have little control over the trend in world oil prices, we do have control over our own operating costs. That’s why we continue to invest in our plants to improve their efficiency, and ultimately lower operating costs. The result is that we are using less oil to generate each kilowatt of electricity. Everybody benefits from the lower energy cost. Jamaica is spending less foreign exchange to import expensive oil, and our customers are benefiting from the lower cost of production,” said JPS President and CEO Kelly Tomblin.

The JPS, added Tomblin, has been working on medium- and long-term solutions to keep the cost of electricity down.

“We are moving ahead with the conversion of our 120 MW plant at Bogue to operate on gas by early next year. We are also finalising discussions with the Government regarding the construction of the new 190MW plant to replace our Old Harbour facility, which is to be retired in another two to three years,” said the JPS boss.

In the meantime, Tomblin has urged electricity customers to continue their conservation efforts. “Energy conservation and energy efficiency are the key to sustainable long-term reductions in energy costs. It has been proven that countries which get serious about efficiency can see a one per cent improvement in Gross Domestic Product (GDP). Everyone has a role to play,” she said.