government of jamaica Archives

JPS wants big jump in annual tariff adjustment 10% increase!

May 24, 2016 Webmaster

Kelly Tomblin

Light and power company Jamaica Public Service (JPS) has asked the Office of Utilities Regulations (OUR) to approve an increase in its annual revenue target to $45.07 billion, up from a base year target of $40.6 billion, or a jump of 9.53 per cent.

“This increase includes fluctuations in the value of the Jamaican dollar against the United States dollar and the inflation in the cost of providing electricity products and services,” the Our said in a press statement.

The OUR is currently reviewing the JPS’s submission for its annual tariff adjustment for 2016. The request for tariff review was made on May 4, 2016, and the OUR is expected to complete its review and issue its determination by July 3, 2016, the regulator said.

“The adjustment will be the first under the provisions of the new Electricity Licence, 2016. On January 27, 2016, a modified licence was issued by the Government of Jamaica to JPS. The provisions of the new licence fundamentally changed the regulatory framework and the methodology for the calculation of the tariff,” the statement said.

If granted, the JPS’s submission for an adjustment, which is in keeping with the provisions of the Electricity Licence 2016, that allows it to make annual filings to the OUR, will require the OUR to apply the amended provisions of the licence in respect of such matters as adding a surcharge to the revenue requirement.

This includes a surcharge from foreign exchange, interest rate and revenue. JPS is proposing to add on $526.6 million which represents the foreign exchange and interest surcharge. As a result of the amendments to the licence, JPS is now allowed to include the total net interest expense or income which is paid or earned in the revenue requirement.

Additionally, the Kelly Tomblin-led JPS is now entitled to an adjustment on its revenue requirement for any foreign exchange loss which it may incur in the prior year in relation to working capital and debt service driven by Jamaican to US dollar exchange results.

The company is also entitled to adjustments to the 2014/2015 approved prepaid rates for the Residential Rate 10 and Commercial Rate 20 customers, and to introduce interests rates on outstanding balances owed by commercial and the Office of Utilities Regulation (OUR) is reviewing the Jamaica Public Service Company Limited (JPS) submission for its annual tariff adjustment for 2016. The request for tariff review was made on May 4, 2016, and the OUR is expected to complete its review and issue its determination within 60 days, that is, by July 3, 2016.

The Observer

Climate Change Government News

Sound Info Can Prepare Ja For Impact Of Climate Change

March 28, 2016 Webmaster

The increased availability of timely climate and weather information will position Jamaica to become more resilient to climate change impacts and improve development across key sectors such as health, agriculture and tourism. This was the consensus of experts at a forum and exhibition which was held in recognition of the 2016 World Meteorological Day, under the theme ‘Hotter, Drier, Wetter. Face the Future’, on Wednesday at The Knutsford Court Hotel, New Kingston.

“There is no doubt that future strategies to deal with climate change will depend upon sound knowledge of past and present climate in our nation and in our region”, Daryl Vaz, minister without portfolio in the Ministry of Economic Growth and Job Creation, disclosed.

A panel discussion, chaired by Professor Michael Taylor, director of the climate studies, University of the West Indies, Mona, brought home the potentially disastrous impact of climate change fallout on the activities of Jamaicans. Medical epidemiologist from the Ministry of Health, Sherine Huntley-Jones, discussed the impact of climate change on vector-borne diseases and explained that “even in prolonged periods of drought, we are expected to see an increase in vector-borne diseases as persons are going to be storing water, which will lead to an increase in breeding sites”.

Jacqueline Spence of the Meteorological Service of Jamaica introduced the fire-danger rating index being developed for the country, which will indicate the preconditions that would increase the likelihood for the occurrence of forest (bush) fires. Emeleo Ebanks, chief fire prevention officer at the Jamaica Fire Brigade, acknowledged the relevance of the fire-danger rating index and indicated that this tool, coupled with public education campaign, would be effective in minimising the incidents of forest fires.

Presenters Glenroy Brown and Dr Arpita Mandal, respectively, discussed climate services and products available for agriculture planning and management, and future implications for land use and economic planning in low-lying areas based on climate models.

The forum brought to the fore one of the strategies the Ja REEACH II, in collaboration with the Meteorological Service and other Government of Jamaica partners, will undertake to advance the availability and quality of climate data to be utilised across key sectors.

Gleaner