The Authorities of Jamaica has formally suggested the Jamaica Public Service Firm (JPS) that it doesn’t intend to resume the corporate’s all-island electrical energy licence below its present phrases when it expires on July 8, 2027.
Power Minister Daryl Vaz made the announcement Tuesday, confirming that he had formally written to JPS earlier within the day in his capability as Minister of Power. The letter, despatched below Situation 27 of the present licence settlement, alerts the Authorities’s intention to discover new preparations post-2027.
“The Authorities of Jamaica just isn’t looking for to take over the operations of JPS,” Vaz clarified. “As an alternative, we intend to barter new licensing phrases and circumstances with potential buyers which are extra beneficial to the Jamaican individuals.”
Situation 27 of the licence grants the Authorities the authority to accumulate the licensed enterprise on the finish of the time period. Whereas not specifying whether or not this feature might be exercised, Vaz emphasised that the choice opens the door for better flexibility in shaping the island’s future power panorama.
JPS presently operates as a monopoly electrical energy supplier, holding the unique licence to generate, transmit, distribute, and provide electrical energy throughout the island. The JPS licence was granted in 2001 for a 20-year interval and prolonged in 2011 to run till 2027. The announcement comes amid longstanding public issues about electrical energy prices, reliability, and the function of personal monopoly within the power sector.
Additional particulars on the negotiation course of or potential buyers haven’t but been disclosed.
