JPS wants rate increase
The Jamaica Public Service Company Limited (JPS) has asked the Office of Utilities Regulation (OUR) for an increase in light bills.
The light and power company, in making its application, said that the lives of its assets have been shortened based on a recent re-computation. It said that it is likely to lose US$21.4 million over the period 2016-2018 as a result of its assets losing value.
The JPS, in requesting the increase, estimates that recovering these costs would result in an increase of approximately one per cent, on the average, for residential customers, and an 0.8 per cent increase for large commercial and industrial customers.