New Electricity Licence Supports Economic Growth and Energy Security

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New Electricity Licence Supports Economic Growth and Energy Security

In response to a recently published article referring to a suggestion for a review of the Electricity Licence which was amended last year, the company has pointed out that the new licence provides support for economic growth and energy security .

“Our licence was negotiated over a period of more than two years under the guidance of international consultants, endorsed by the Government of Jamaica’s legal counsel, and approved by the Energy Ministry and the ESET,” said Kelly Tomblin, JPS President & CEO.

“The entire process focused on the implementation of the most progressive regulatory structure that would both further economic growth and promote energy security. I feel certain that once individuals that were not involved in those lengthy debates are briefed, there will be greater confidence in the ability of our licence to help deliver the energy sector that Jamaica needs and deserves.  In fact, we have already reaped significant benefits from the Licence amendments, in the form of the introduction of natural gas to Jamaica, greater penetration of renewables, the implementation of a smart grid framework, the first smart home pilot and net zero energy buildings, and other measures that will support nation building. We are sure that local lenders would not have been able to invest in the construction of a new power plant under the terms of the old licence–an investment which keeps funds in Jamaica for Jamaicans,” Ms Tomblin indicated.

JPS has pointed out that, of particular note is the action taken last year when JPS aggressively facilitated the integration of three major renewable energy projects on the national grid: BMR Wind Jamaica; WRB Content Solar Farm and Wigton Wind Farm III. JPS is now working diligently to facilitate another renewable energy project currently being developed.  These achievements have been noted globally.