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OUR to commission audit of K-factor regime
2013-10-08 09:31:41 | (0 Comments)
The Office of Utilities Regulation (OUR) says it will be commissioning a comprehensive audit of the K-factor programme run by the National Water Commission (NWC).
The K-factor is an OUR-determined mechanism for the NWC to fund approved capital projects to improve service to†customers.
However, in a news release yesterday the OUR expressed disappointment with the recorded gains to date from the programme.
It says in addition to the audit it has also mandated the NWC to comply with a reporting regime on the gains achieved in respect of reductions in Non-Revenue water and energy savings.
The OUR made the disclosures as it announced a new tariff structure for the NWC.
The utility regulator says there will be overall increases of 13 per cent on accounts which reflect water and sewerage charges, and 18 per cent on accounts which do not pay for sewerage services.
It says the K-Factor which appears on customersí bills as a percentage charge has been reduced from 27 per cent to 14 per cent.
The OUR says in order to encourage private investments, this tariff regime will be in effect for five years from 2013 to†2018.
However, the OUR says it reserves the right to amend the tariff mid-schedule contingent on the result of the†audit.
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Source: The Gleaner/Power 106 News
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