Monthly Archives: April 2016

//April

JPPC Squeezes More Electricity Out Of Fuel, But Losses Worsen

Jamaica Private Power Company (JPPC) saw its loss position double in 2015. Its parent, Kenon Holdings, reported US$2 million ($234 million) net loss for last year compared with US$1 million the year before. The private power producer, which sells electricity to all-island distributor, Jamaica Public Service Company (JPS), managed to increase its revenue by four [...]

By | 2016-04-27T22:57:44+00:00 April 27th, 2016|

World Bank Raises 2016 Oil Price Forecast

Amid improving market sentiment and a weakening dollar, the World Bank is raising its 2016 forecast for crude oil prices to $41 per barrel from $37 per barrel in its latest April 2016 Commodity Markets Outlook, as an oversupply in markets is expected to recede. The crude oil market rebounded from a low of $25 [...]

By | 2016-04-27T22:54:13+00:00 April 27th, 2016|

How low will solar prices go?

If the Peru and Mexico auctions are any indication, Latin American markets are establishing a new, and very low, normal for solar prices. Peru recently awarded a solar power purchase agreement (PPA) at $47.98/MWh to Enel Green Power (EGP), making headlines as the lowest PPA on record. But just weeks later, EGP beat its own [...]

By | 2016-04-27T22:50:05+00:00 April 27th, 2016|

Jamaica Preps For Full Benefits From Green Climate Fund

Albert Daley: We have developed a proposal and they are favourably disposed to making the funding available to us. With its role as National Designated Authority (NDA) with the Green Climate Fund (GCF) secure, Jamaica's Climate Change Division is moving to ensure it successfully fulfils the functions. To that end, the division recently applied to [...]

By | 2016-04-20T12:05:15+00:00 April 20th, 2016|

Jamaica Among States To Sign Climate-Change Agreement This Week

Mahlung Kamina Johnson Smith, minister of foreign affairs and foreign trade, will this Friday represent Jamaica during the official signing of the Paris climate-change agreement in New York, following last November's conference in France. Some 200 countries had gathered in Paris for the COP 21 climate conference and, in December, adopted the new agreement, which [...]

By | 2016-04-19T20:33:03+00:00 April 19th, 2016|

Blackout – Widespread Outage Leaves Thousands In The Dark

Winsome Callum   Up to late last night, the Jamaica Public Service Company (JPS) was yet to determine what caused a "fairly widespread" power outage that left tens of thousands in darkness. Reports of the outage began to emerge shortly after seven o'clock from Manchester, Hanover, St Mary, Kingston, St Andrew, Portland, St Catherine, Trelawny, St [...]

By | 2016-04-18T21:45:53+00:00 April 18th, 2016|

Delay as American LNG now sees 2017 start-up of export project

The JPS power plant in Old Harbour   In an update last week on the US Department of Energy’s (DOE) website American LNG— associate company of New Fortress Energy – said there were likely to be delays at its planned US$250-million onshore LNG export facility at Titusville, Florida. Operations will likely begin in 2017, not [...]

By | 2016-04-13T20:13:47+00:00 April 13th, 2016|

Electricity net billing resumes April 11 — Energy ministry

KINGSTON, Jamaica – Customers of Jamaica Public Service (JPS) will again be able to apply for licences to sell their excess electricity generated from renewable energy sources to the grid as of April 11, 2016. Minister of Science Energy & Technology (MSET) Dr Andrew Wheatley today announced that the Office of Utilities Regulation (OUR) will [...]

By | 2016-04-10T23:35:19+00:00 April 10th, 2016|

GOJ committed to selling stake in JPSCo — DBJ

JPS on Knutsford Boulevard in New Kingston   The Development Bank of Jamaica (DBJ) has advised that the Government of Jamaica (GOJ) is committed to selling its stake in the Jamaica Public Service Company Ltd (JPSCo), the island’s sole power distributor. However, timelines for the divestment project and method of sale are not yet determined. [...]

By | 2016-04-07T14:09:38+00:00 April 7th, 2016|

Jamaica After Obama: Obama Visit Improved Energy Prospects For Jamaica

Kelly Tomblin, president and chief executive officer of the Jamaica Public Service Company (JPS), is arguing that the visit of United States President Barack Obama to Jamaica last year has improved the energy prospects for the island. Tomblin, one of the participants in a Gleaner project ahead of Friday's one-year anniversary of Obama's visit, said: [...]

By | 2016-04-06T12:32:34+00:00 April 6th, 2016|