JPSCo Receives New Electricity Licence

The Science, Technology, Energy and Mining Ministry has awarded the Jamaica Public Service Company Limited (JPSCo) the 2016 Electricity Licence, which will allow for significant changes in the sector.

Last year, Cabinet approved recommendations for changes to be made to both the Amended and Restated All-Island Electric Licence 2011 and the Office of Utilities Regulation Act, to accommodate a redesigned tariff structure guided by Government policy, among other things.

The Amended and Restated All-Island Electric Licence 2011 will now be called the Electricity Licence, 2016.

“What we have now are terms that will enable greater investment, greater security and for the country to benefit. The new licence also recognizes the role of renewable energy and certain commitments in relation to public street lighting,” said Science, Technology, Energy and Mining Minister, Hon. Phillip Paulwell.

The Minister was addressing a press conference to hand over the Electricity Licence to the JPSCo. The new licence will also enable the JPSCo to earn profits in a fair and transparent manner.

Meanwhile, JPSCo Board Chairman, Chang Jo, said his company would do its best to contribute to the country by building successful new projects.

The company’s Board Director, Tatsuya Ozono, said the licence would enable the energy company and the energy sector to remain viable.

For his part, Chairman of the Electricity Sector Enterprise Team (ESET), Dr. Vincent Lawrence, said the licence would enable the delivery of electricity at much reduced prices, utilizing liquefied natural gas (LNG) in 2018.