First Look

OUR approves fuel rebate for JPS customers

Office of Utilities Regulation | 2012-08-03 09:47:00

The Office of Utilities Regulation (OUR) has directed that customers of the Jamaica Public Service Company Limited (JPS), during the month of August, benefit from a rebate of fuel charges for which they had been overcharged over an extended period.

The one-off rebate of approximately J$ 343 Million, is inclusive of J$73 Million in interest charges. This rebate is occasioned as a result of an overcharging on the price of fuel supplied to an Independent Power Producer by Petrojam.

When the pricing error came to the attention of the OUR, all parties concerned were summoned and the regulator directed that the electricity customers should be refunded the amount overcharged and that an interest equivalent to that applicable to customer deposits be applied.

A repayment formula was agreed and as a result, electricity customers will see the difference reflected as a reduced fuel charge on their electricity bills for the month of August.

Electricity customers should note that this is a one-off rebate and will not extend to subsequent billing months.
Independent of this discovery, the OUR is to conduct an audit of the Fuel Management Systems at all power generation facilities and is in the process of retaining a consulting firm to do this audit.

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