Dimitris Kosvogiannis, country manager for Fiesta Jamaica. – Winston Sill/Freelance Photographer
Avia Collinder,
BUSINESSES will suffer as the Government raises the general consumption tax (GCT) on electricity to help fund its $613-billion budget, said two affected associations.
The Jamaica Manufacturers’ Association (JMA) and the Micro, Small and Medium-sized Enterprises (MSME) Alliance both said the new measure will be too much for companies operating in an already difficult business environment.
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GCT-free solar panels are generating huge interest among businesses struggling with electricity costs, said the Jamaica Manufacturers’ Association
THE country could save about half of what it spends to import LED lights if it made its own, according to Caribbean Maritime Institute (CMI) registrar Mark Broomfield. Jamaica is fully capable of producing much of its own technology and should be encouraged to do so, Broomfield said at the University of Technology‘s Sustainable Energy Conference and Exposition last Thursday
“Almost a year after the launch of its Green Energy Project
Petrojam has projected that consumers could see a slight ease in pumps prices for the current fiscal year. The refinery which is majority owned by the government, in its forecast for the 2012/2013 fiscal year says while it expects prices to remain strong in spite of continuing economic uncertainties, the average selling prices could fall about 3 percent. Petrojam did not say how it expects the reduction in oil prices to affect prices at the pumps. However since the start of the year pump prices have moved up by about 8 percent. http://rjrnewsonline.com/business/petrojam-projects-slight-dip-petrol-prices 
Solar Buzz
THE Jamaica Observer‘s Mogul in the Making may not be a ‘cure all’ for the challenges faced by fledgling businesses in Jamaica. But the exposure has helped this year’s 21 nominees, individuals who have already taken the first step in pursuing enterprise, to switch gears. At a gala event in the Coutleigh Auditorium, New Kingston, on Wednesday to mark the end of this year’s programme, the nominees got to mix with prominent members of the business community and other Jamaica Observer readers. And the message they were telling everyone who would listen was that the exposure they received from the programme far exceeded the reach of any marketing they could afford. Food Xpress Catering’s Georgia Scarlett said the programme created “a launch pad for her company’s marketing thrust”. Energy management company Solar Buzz Jamaica may have gotten a little more mileage than others
MOTORISTS will have to fork out even more cash when they go to the pumps this week as gas prices have increased yet again. The prices of 87 and 90 gasoline have risen by $1.10 and will be sold for $105.94 and $107.59 per litre respectively. Propane Liquid Petroleum gas has increased by 44 cents and will be sold for $44.17 per litre. However, the price of Automotive Diesel Oil has dropped by 73 cents and will now be sold for $105.76 per litre. Kerosene and Butane Liquid Petroleum have also experienced price decreases of 73 cents and 41 cents respectively and will be sold for $108.69 and $60.14 per litre. Retailers will add their own mark up Read more:
Gasolene prices will go up by $1.10 this week. Effective tomorrow, it will cost $105.94 to buy a litre of E-10 87 gasolene while E-10 90 gasolene will be sold for $107.59 per litre. In the meantime, the prices of other products have been cut. The price of automotive diesel oil will move down by $0.73 to sell for $105.76 per litre. A litre of kerosene oil has been cut by $0.65 and will be sold for $108.69. A litre of butane has been reduced by $0.41 and will sell for $60.14. However, the price of propane cooking gas has gone up by $0.44 with a litre to be sold for $44.17. Retailers will add their mark-ups to the announced prices.
http://jamaica-gleaner.com/latest/article.php?id=36223 
Energy Minister Phillip Paulwell has called a meeting for today Friday March 16
EX-IM Bank Jamaica on Tuesday urged Jamaican producers to begin retrofitting their operations for energy efficiency to contain costs, as oil prices climb on the world market. Crude sold for more than US$91 per barrel Tuesday and is forecast to hit US$100 sometime this year. EX-IM said producers should act now to access its energy loan to develop renewable energy systems, such as solar, wind, biogas, for electricity conservation to protect against the adverse effects of rising energy costs. The loans are priced at 9.5 per cent on JMD credit. Jamaica’s electricity costs are among the highest in the region, due largely to high dependence on imported oil, the bank said in a statement. “Analysts expect the cost of fossil fuels to increase, and the demand for these products to also increase. That creates the perfect scenario for high prices which can be detrimental to local businesses,” said Ann-Marie Walter Allen, chief marketing officer. “Business owners can therefore mitigate against those risks by spending the money now to cut dependence on oil and thus see better profit in the future.”  |