JPS awaits LNG to cut light bill 40 per cent
The Jamaica Public Service Company (JPS), says light bills could be cut by 30 to 40 per cent, if the Government delivers on the much-touted LNG project.
LNG is a much cheaper input in the production of electricity than crude oil which is now used.
Speaking at a press conference this morning, JPS Chief Financial Officer Dan Theoc, said the company has developed a 5 -year plan aimed at reducing energy costs.
He said that plan is focused at targeting 5 specific areas including improvements to its transmission and distribution network.
He said the company is also looking at other options aimed at reducing high energy costs.
Minister of Science, Technology, Energy and Mining Phillip Paulwell, has said the government is to complete the LNG project by 2014.
Paulwell also said the Government is committed to reducing the country’s energy cost and to pursue more renewable sources of energy.