Manage your losses
The Office of Utilities Regulation (OUR) is charging that the major problem facing the Jamaica Public Service Company (JPS) at this time is not the recently announced reduction in its tariff but its failure to adequately address the system losses which last year was estimated at more than 26 per cent.
"Manage your loses and your profit will grow," director general of the OUR, Albert Gordon suggested to the JPS during an interview with The Gleaner yesterday.
"We have seen other entities which have made dramatic reductions in their losses in three years ... and we think they can improve their approach and strategies to better attack losses," added Gordon.
The OUR boss noted that in its recently released determination the regulator increased the amount of losses which the JPS can recover from its paying customers from 17.5 per cent to 19.2 per cent.
"That is to assist them in managing a problem that we don't think they have been managing as best as they could and which we think is critical to the success of the company and warrants greater focus and a more strategic approach," said Gordon.
"We intend to work with them to manage this problem which is the losses and this is not just about the theft of electricity," added Gordon.