JPS rates likely to increase in 2018, 2019 due to OUR decision

Electricity rates may be going up next year and in 2019 based on a decision by the Office of Utilities Regulation (OUR).
The OUR, has determined that the Jamaica Public Service Company (JPS) should be compensated for any increase in its deprecation expenses in 2018 and 2019 through a revision of electricity rates.
However, the utility company is required to provide details by March 3 this year on each project in its investment plan for the next two years.
The JPS said this is material to determining the amount of compensation.
In a statement on Monday, the OUR said it will review JPS’ investment plan and make a determination on the changes to the company’s base revenue requirement, which will be published prior to July 1, which is the date the revenue revision takes effect.

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