Can Jamaica Reduce Electricity Costs?
Going forward, Government has identified LNG as the preferred fuel to replace oil as the primary fuel for generating electricity but expectations that this will substantially reduce fuel costs may be misguided. In the meantime consumers can take conservation measures to lower their electricity bills
Perhaps the most frequent complaint regarding electricity is the high cost to households and businesses. This is frequently attributed to inefficiencies in the operations of Jamaica Public Service Company (JPS) or the greed of the company’s owners for unduly high return on their investment. Electricity consumers have a right to know what opportunities exist by which electricity prices can be reduced.
Review of the company's financial reports for 2009, the latest year for which audited financial reports are currently available, indicate that in round numbers the utility’s operating revenues amounted to US$794 million, while income from other sources totalled US$17 million for a total of US$811 million. An abbreviated presentation of its expensesis as shown in Table 1.
About the Author
Winston Hay a former managing director of Jamaica Public Service Company is an energy consultant.
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