OUR reviewing JPS application for a rate increase

The Office of Utilities Regulation (OUR) says it has accepted the Jamaica Public Service Company Limited (JPS) tariff application. It is now in the process of evaluating the application for rate increases by the for the period 2019-2024.

According to JPS, if the tariff application is accepted, customers would see an average increase in overall rates of 4.69 percent, subject to annual reviews.

But this increased will be categorized. Residential customers would see the largest increase-17.14 percent, while large industrial/commercial customers (on the time of use option) would register a reduction of 14.06 percent.

Based on JPS’s proposal, The OUR outlined that the proposed 4.69 percent increase in the overall rate is explained by a change in the average non-fuel tariffs of approximately 17.53 percent, versus an expected reduction in the fuel tariffs of 6.10 percent.

The non-fuel tariff contribute to approximately 48 percent of the bill.

The OUR has 120 days ( May 12, 2020) to review the application and make a decision.