JPS gets marginal rate increase
Householders and small businesses will see a "marginal" rise in electricity bills this month while large factories will actually see a decline.
This follows the annual rate adjustment to the non-fuel portion of bills by the regulator, the Office of Utilities Regulation (OUR).
The rise however will be most felt by small businesses - up 2.3 per cent - while residential households will see a 1.9 per cent rise.
Large businesses and factories will see an approximate fall of 1.0 per cent.
The JPS has expressed measured joy at the OUR's determination published July 1.
"JPS recognises the difficult economic environment in which both the company and our customers are operating. We are therefore happy that the OUR has approved measures that will keep rates flat for our customers, and JPS will continue to work with customers on energy management and conservation initiatives to help keep bills down," said JPS spokesperson Winsome Callum.
JPS is regulated by the OUR based on a price cap regime introduced through the Amended and Restated All-Island Electric Licence, 2011.
The licence, allows for the non-fuel base rates to be adjusted annually by a component to incorporate a Performance Based Rate-making Mechanism.
A monthly adjustment is also allowed to account for movements in the monetary exchange rate between the United States Dollar and the Jamaican Dollar, according to the OUR.
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