The country is moving one step closer to what is hoped will be cheaper electricity rates.
Energy Minister Phillip Paulwell this afternoon announced that Energy World International (EWI) was granted a Licence on April 14, 2014 to supply electric power to the Jamaica Public Service Company (JPS).
The supply of power will be under the terms of a Power Purchase Agreement (PPA) between the JPS and EWI.
Mr. Paulwell noted that the Licence which was finalized and issued on April 4, 2014 was amended and restated yesterday April 14.
The amendment and restatement was to provide for some negotiated changes as well as to include a draft Implementation Agreement between the Government and EWI.
The Minister says the 381MW gas fired power project is among the first steps towards reducing the price for electricity.
According to the Minister, the project will be implemented over a period of 26 months so that by mid 2016 customers of JPS will already be benefiting from reduced electricity cost.
Mr. Paulwell indicated that he will be meeting shortly with the Energy Monitoring Committee (EMC) to provide an update on both the Licence and the draft Implementation Agreement and thereafter to make the documents public.
.jpg)
All feeds
