JPS to refund customers near a billion dollars
The Office of Utilities Regulation (OUR) has directed the Jamaica Public Service Company (JPS) to refund over $973-million to customers.
According to the OUR, the almost $1 billion was unilaterally imposed as foreign exchange adjustments on fuel supplied by Petrojam Limited from March to December 2013.
This was done without any approval by the OUR.
The Directive, which is effective February 16, was issued following consultations with JPS.
JPS has been directed to submit details of how it proposes to effect the repayment including the commencement date by which the refund will be made to customers within seven days from the effective date of the directive.
Customers are to be fully refunded within six months of the effective date of the directive.
The OUR says it will continue to be vigilant in safeguarding the interest of consumers, while ensuring an equitable environment for investors in our utility services.