JPS applies for new electricity rates
THE Jamaica Public Service Company (JPS) has applied for its annual tariff adjustments with a proposal for a 0.8 per cent increase in rates for residential customers while some commercial customers rate will only go up by 0.2 per cent. Other commercial and industrial customers could see reductions above 2.3 per cent, the JPS said.
Based on the proposal, the JPS is targeting revenues of $55 billion.
The company is required to apply for an adjustment each year for non-fuel tariffs. The cost of fuel is passed on directly to consumers.
JPS has stated that it has submitted its 2023 Annual Tariff Adjustment Application without prejudice to its rights or positions in respect of the matters which are the subject of the appeals before the Electricity Tribunal. Therefore, the utility is explicitly preserving its right of appeal against aspects of the 2021 and 2022 Annual Adjustment Rate Determination Notices and the 2019-2024 Rate Review Determination Notice.