This is an overview of Jamaica Public Service Company Limited’s (JPS) 2018 Annual Adjustment
Submission to the Office of Utilities Regulation (OUR) (the “2018 Annual Adjustment”), provided
in accordance with Electricity Licence 2016 (the Licence), Schedule 3, Paragraph 43, which states:
“The Licensee shall make annual filings to the Office at least sixty (60) days prior to the
Adjustment Date. These filings shall include the support for the performance indices, the
inflation and the proposed Non-Fuel Base Rates for electricity, and other information as
may be necessary to support such filings….”
This is the filing by JPS under the Licence for an annual adjustment under the Performance Based
Rate-making Mechanism (PBRM) and will be the Company’s last annual adjustment submission
within the last Five Year Rate Review process 2014 – 2019 Rate Case Determination and before
its first filing under the Five Year Rate Review Process in the Licence. JPS has in accordance with
the terms of the Licence filed two other applications for Annual Adjustment under the Licence
being the May 3, 2016 and the May 5, 2017 filings, respectively.
The Rate Determination process (including Annual Tariff Adjustment) provides an opportunity to
implement business strategies that are consistent with the National Energy Policy, meet the
evolving needs of the customers, improve JPS’ financial performance and ensure a reasonable
return is provided to shareholders.
