the cost of
electricity
iN JAMAicA
overvieW
WhAt About policy DecisioNs?
priciNG policy: tAriff structure of the electricity bill
systeM DistributioN losses
DisecoNoMies of scAle
best cAse electricity rAtes for JAMAicA
coNclusioN
biblioGrAphy
coNteNts
2
6
9
11
12
13
14
4
The average electricity price paid by Jamaican residential customers in 2013 was roughly J$38 (US$0.35)1 per kilowatt-hour (kWh), ranking amongst the highest in the world. Fuel costs, construction and maintenance costs for power plants, maintenance on transmission and distribution lines, and regulatory decisions all play a part in the final price of electricity. Jamaica’s high electricity prices are lamented by both residential and commercial customers, the former alluding to its impact on disposable income and the latter viewing it as prohibitive to doing business. Jamaicans have blamed aged and inefficient generators, electricity theft, unfair billing practices, and the reliance of the Jamaica Public Service (JPS) on crude oil for this predicament. This brief examines the merit of each of these and other explanations put forward by experts, stakeholders and the general public.
The policy decisions taken by the regulatory agency, the Office of Utilities Regulation (OUR); the Government of Jamaica (GOJ); and the JPS are examined in Section 2. The tariff structure of the electricity bill is analysed in Section 3. Next, the impact of system distribution losses to the final electricity price is quantified, and diseconomies of scale in electricity generation faced by the JPS is considered in Section 5. The ‘best case scenario’ electricity rates in 2019 are estimated in Section 6 given that infrastructure is upgraded, electricity theft and other inefficiencies are reduced, and JPS billing practices accurately reflect fixed and variable costs of electricity generation, transmission, and distribution.
Calculations were made for average electricity consumption of 175 kWh/month. The benchmark consumption figure was obtained from Jamaica Public Service’s 2013 Annual Tariff Adjustment Submission.
1
WhAt About
policy DecisioNs?
Government and reGulatory aGency Policy
The Jamaica Public Service is regulated by the independent government agency – the Office of Utilities Regulation. Ensuring that consumers of utility services enjoy an acceptable quality of service at reasonable cost is stated first on the regulatory agency’s objectives. Therefore, decisions taken by the OUR in response to the tariff submissions made by the JPS are central to the mission of reducing (and explaining) electricity rates in Jamaica.
Under the price cap regime introduced in JPS’s licence, the OUR sets non-fuel base rates once every five (5) years. The JPS is allowed an annual adjustment to the non-fuel rates to reflect the impact of inflation as well as expected improvements in the company’s efficiency. A system loss target of 17.5% has been set in the JPS Annual Tariff Adjustment 2013 Determination Notice (Office of Utilities Regulation, 2013). The JPS is only permitted to pass on fuel costs incurred from system losses up to 17.5% of net generation and losses exceeding this amount have to be absorbed by the company.
In determining a tariff structure and system loss target (and associated fuel penalties) for the JPS, the decisions of the OUR are intended to provide a financial incentive for the utility company to operate more efficiently. A fuel penalty is imposed on the JPS for failing to meet system loss and heat rate targets. The JPS has incurred
increasing net fuel penalties over the last three years2
(from failing to meet system loss targets), growing from US$13 million in 2010 to US$36.5 million in 2012 and has been charged a net fuel penalty in every month since the system loss target was last reduced in July 20113.
The retirement and replacement of old and inefficient generating plants is central to efforts of significantly reducing fuel costs which account for nearly two-thirds of the final price of electricity.
However, efforts by the JPS to replace 292 megawatts (MW) of older generating plants with a 360 MW combined cycle4 plant were thwarted after the JPS
and the project company, South Jamaica Power Company Limited (SJPC) missed an already extended deadline. The new plants were expected to be between 40 to 50% more efficient than the soon-to-be retired plants. The JPS was granted the right to construct the plant in late 2011 on a build, own, and operate basis. Recently, the project has been revived since the Hong Kong-based Energy World International (EWI) won the bid to construct the plant (Jamaica Gleaner, 2014). On May 5, the Jamaican government revoked the licence on the basis that EWI failed to post an agreed US$36.855
million performance bond. The bidding process has therefore been reopened and completion dates for the project now carry some uncertainty.
The JPS exceeded heat rate targets (currently 10,200kJ/kWh) in most billing periods between January 2009 and March 2013. This excludes November 2012 when force majeure relief was provided due to the impact of Hurricane Sandy.
The term “combined cycle” refers to the combining of multiple thermodynamic cycles to generate power. Combined cycle operation employs a heat recovery steam generator (HRSG) that captures heat from high temperature exhaust gases to produce steam, which is then supplied to a steam turbine to generate additional electric power.
The Inter-American Development Bank (IDB) was willing to finance 70% of the project, while EWI would provide 30% in equity financing. However, in an email to EWI on April 26th, 2014 the IDB rescinded on financing the process on the grounds that the international agency deemed the bidding process and the ultimate selection of EWI to be undertaken in a manner inconsistent with IDB internal procedures and policies.
2 3 4 5
About 93% of Jamaica’s power is generated from crude oil (Inter-American Development Bank & Bloomberg New Energy Finance, 2013). The inefficiencies of the JPS-owned generating plants are often blamed for high electricity rates. Crude oil was used to generate only 4.6% of the world’s electricity in 2010, down from 20.9% in 1971 (OECD, 2013). The end-user price to customers from electricity generated using residual or distilled fuel oil in the United States, for example, is higher than electricity generated from either natural gas or steam coal (U.S. Department of Energy, 2013). Therefore, price must be a contributing factor to the gradual shift from crude oil in electricity generation. The Ministry of Science, Technology, Energy and Mining (MSTEM) is responsible for, amongst other things, ensuring Jamaica’s access to affordable energy supplies; energy security; and the diversification, development, and competitiveness of the energy sector. Fuel and Independent Power Producer6 (IPP)
charges are about 66% of total electricity costs for a typical residential customer consuming 175 kWh/ month. To this end, about 70% of the island’s demand (23,000 barrels a day) for crude oil is satisfied by the PetroCaribe deal with Venezuela at a concessionary rate. Without the PetroCaribe agreement Jamaicans would face even higher electricity rates7. Electricity
rates are also measurably affected by the system loss target mandated by the OUR and reductions in these targets have meant that customers actually pay for a smaller proportion of these losses.
Considering the inefficient generators and the JPS’s reliance on crude oil in electricity generation, failures in policy execution and decision-making on the part of both the GOJ and OUR that have contributed to the JPS using outdated technology and generating plants are indeed a key contributor to Jamaica’s high electricity rates. Therefore, the current initiatives being undertaken by the MSTEM
to reduce electricity rates can only scratch the surface of what is an underlying limitation of the technology, coupled with the reliance on crude oil for electricity generation.
JPS oPeratinG Policy
A crucial feature of the Annual Tariff Adjustment Submissions made by the JPS involves policy initiatives proposed to reduce electricity rates. Most recently – in response to complaints from the business community about electricity rates – the JPS proposed a “wholesale tariff” for the top 20% of industrial customers representing a 25% discount on the non-fuel tariff. The non-fuel tariff represents roughly 35 to 40% of the electricity bill for industrial customer and the proposed wholesale tariff could therefore reduce rates by around 10%. Concerns were raised by the OUR that the proposal would only be made possible through a cross subsidy8.
Consideration of this proposal could come as early as this year when the tariff structure will next be reviewed. Policy initiatives proposed by the JPS such as the wholesale tariff are subject to approval by the OUR. Strictly speaking, the wholesale tariff would result in lower rates for commercial and industrial customers at the expense of residential customers. The wholesale tariff reinforces the limitations and perhaps, incapability of the JPS to propose, plan, and effect meaningful policy initiatives aimed at reducing electricity rates paid by Jamaicans. It is true, however, that the JPS would have greater autonomy (and need to be held accountable) over its costs of production if the MSTEM procured cheaper sources of fuel and if the company was allowed to upgrade generating plants as seen fit. Therefore, the impact of the JPS’s policy decisions on electricity rates is heavily dependent on decisions made by the regulatory agency, the OUR.
IPPs use private facilities to generate electricity for sale to the JPS, through a long term power purchase agreement (PPA) that has to be approved by the OUR.
The PetroCaribe agreement allows beneficiary nations to buy oil at market value but only pay a percentage of the cost up front. The balance can be paid over 25 years at 1% interest. Jamaica therefore benefits from the deferred payments on crude oil purchased from Venezuela.
A cross subsidy involves charging higher prices to one group of consumers (in this case residential customers) in order to subsidise lower prices for another group (in this case industrial customers).
7 8 9
The JPS charges a minimum amount which is independent of consumption, billed as a customer charge. The consumption-dependent portion of the charges for residential customers are: an energy charge ($ per kilowatt-hour) which covers non-fuel costs that vary with consumption such as the cost of wear and tear of the electricity plant and also additional fixed non-fuel costs not recovered through the customer charge; and a fuel and IPP9
charge. A foreign exchange rate adjustment is applied to all charges except fuel and IPP to adjust for changes in the exchange rate between Jamaica and the United States. Electricity is billed according to a tiered rate structure where energy consumption over 100 kWh/month is billed at a higher rate than the first 100 kWh.
The JPS purchases energy from the Independent Power Producers (IPPs): Jamaica Energy Partners (JEP); Jamaica Private Power Company (JPPC); Jamalco; and Wigton Wind Farm.
9
priciNG policy:
tAriff structure of the electricity bill
DescriptioN
bAse f/X rAte
billiNG f/X rAte
usAGe kWh
rAte
totAl
rAte 10 (resiDeNtiAl)
2013 rAtes J$
eNerGy 1st f/e ADJust98.5
100
75
0.003
6.846
25.003
4,375.53
175
98.89
6.98
15.96
2,282.00
-3.80
698
1,197.00
387
eNerGy NeXtfuel & ipp
custoMer chArGe
bill totAl J$ 6,664.38
sub totAl
Energy charges for monthly consumption exceeding 100 kilowatt-hours is roughly 2.5 times more expensive to the residential customer than the first 100 kilowatt-hour10. Minimising charges for consumption over 100
kilowatt-hours/month is difficult considering that the average 16 cubic ft. refrigerator uses 60 kilowatt-hour/ month if operated uninterruptedly. Average electricity usage for residential customers was approximately 175 kilowatt-hours/month in 2012 which translates to 43% of average residential household electricity consumption being billed at the higher rate. In Antigua and Barbuda; Barbados; the Bahamas; Belize; Grenada; Guyana; St. Kitts and Nevis; and St. Vincent and the Grenadines, a minimum charge is applied in addition to some variation of a tiered energy rate structure. Electricity rates are high in all these countries, in some cases higher than that of Jamaica and tellingly, JPS’s electricity bill structure is similar to comparable countries in the Region (see Table 2).
The Energy charge is J$6.98 (US$0.07) per kilowatt-hour for each of the first 100 kilowatt-hours/month and J$15.96 (US$0.15)/kWh for each kilowatt-hour in excess of 100 kilowatt-hours/month.
10
GeNerAtioN MiX
coMpositioN of
electricity bill
selecteD
cAricoM
couNtry
MAiN utilities
bAhAMAs
bArbADos
belize
GreNADA
GuyANA
JAMAicA
st. kitts
& Nevis
st. luciA
Minimum, consumption (variable fuel charge)Minimum, value added tax, fuel, tiered rate structure (over 150
kWh/month)
Minimum, tiered rate structure (over 50 kWh)
Fuel, non-fuel, value added tax, floor area charge (per 50 sq. ft.
of floor area) Fixed, energy, tiered rate
structure (over 75 kWh) Energy, fuel & IPP, minimum, tiered rate structure (over 100
kWh)
Tiered energy rate, tiered fuel surcharge, VAT (currently 0%),
tariff rebate
Diesel engines
Residual fuel oil and diesel for steam and gas
turbines
HFO, hydro, bagasse, gas turbine and diesel
Diesel engines
HFO, diesel and bagasse
Wind, hydro, steam turbines, diesel, gas turbines,
combined cycle
Diesel engines
Belize Electricity Limited – nationalised by the Government in June 2011 Grenada Electricity Services Ltd.
GRENLEC Guyana Power & Light Inc.-state-owned Jamaica Public Service Company
privately owned
St. Lucia Electricity Services Ltd. (LUCELEC) –
private/public enterprise Diesel engines and gas
turbine
Steam turbine and diesel engines
Diesel engines
Diesel engines, wind
Bahamas Electricity Corporation state-owned Grand Bahama Power
Company privately owned
St. Kitts Electricity Department (SKED)
state-owned
Nevis Electricity Company Ltd. (NEVLEC)-state-owned
Antigua Public Utilities Authority
Barbados Power & Light -privately owned Minimum, fuel surcharge, tiered
rate structure (over 800 kWh/ month)
Energy charge (kWh charge, fuel charge), optional night guard
light
Tiered minimum rate, fuel surcharge, tiered rate structure (over 75 kWh/
month)
Tiered demand charge, first 50 kWh, next 75 kWh and next 125 kWh = [energy charge+ standing charge], fuel surcharge, solid waste charge,
17% VAT charge
ANtiGuA &
bArbuDA
Most of the recent increases in Jamaica’s electricity rates have been due to increases in fuel tariff rates. Since 2009, the average fuel tariff rate has grown by a compound annual growth rate11 (CAGR) of roughly 10%
compared to a CAGR of around 2% in the non-fuel tariff rate. Fuel tariffs take into account the cost of generating electricity using crude oil purchased by the JPS. The costs associated with generating electricity appear therefore to be an important determining factor in why electricity rates are currently so high.
a cloSer look at the enerGy and Fuel charGeS
To arrive at a greater appreciation of the final electricity rates charged by the JPS, we take a closer look at how the energy and fuel charges are determined. The energy charge is billed in two parts, for monthly consumption under 100 kWh and for consumption over that amount. The JPS argued in its 2009 Tariff Review application that households should be billed using the principle of marginal willingness to pay12 based on the assumption
that wealthier people consume more electricity.
The approved energy charge is dependent on a non-fuel revenue requirement that maintains the
financial viability of the JPS in Jamaica13. The revenue
requirement includes efficient non-fuel operating costs14, depreciation expenses, taxes, and a fair return
on investment. Non-fuel operating costs for the utility company were US$160M in 2012 and are listed as either salaries or other operations and maintenance (O&M) in the company’s annual report. Maintenance costs are high since the older plants are costly to maintain. It is reasonable to expect a lower revenue requirement (and energy charge) if maintenance costs are lowered. The fuel rate charged by the JPS is determined by dividing the total cost of fuel purchased from the Petroleum Corporation of Jamaica (PetroJam) by the expected amount of kilowatt-hours used by customers. As a result, the efficiency in which fuel is converted into electricity has a significant impact on the fuel charge per kWh paid by customers. Fuel conversion efficiency has averaged around 34% (see Figure 1), and more efficient generators could lead to reductions in fuel charges from the JPS requiring less fuel to satisfy electricity demand.
The CAGR is the year-over-year growth rate of a number series over a specified period of time. This rate can be thought of as an imaginary number that describes the rate at which the series would have grown if it grew at a steady rate.
The efficient non-fuel operating cost is determined after establishing JPS’s expected non-fuel costs if efficiency targets (system losses and heat rate) are met at the minimum.
The marginal willingness to pay is the maximum amount a person would be willing to pay, sacrifice or exchange for an extra unit of a good or service.
The OUR approves JPS’s Tariff Submission applications after - amongst other things - considering rates that ensure the company is able to at least recoup operational costs. The expected costs faced by the JPS in the generation, transmission, and distribution of electricity are a significant factor in the tariff rates that are ultimately approved by the OUR.
11
14 12 12
AvG NoN-fuel
tAriff J$
tAriff J$
AvG fuel
custoMer
chArGe J$
AvG NoN-fuel
tAriff us$
chArGe us$
custoMer
chArGe us$
custoMer
cost us $
per kWh
cost us $
per kWh
9.546 10.033 9.679 9.485 10.829 1.96 16.686 19.882 19.257 24.351 25.003 10.12 250.00 287.50 300.00 322.50 387.00 9.89 0.108 0.114 0.113 0.107 0.110 0.5 0.189 0.227 0.224 0.275 0.253 7.68 2.839 3.280 3.487 3.636 3.913 7.45 0.275 0.323 0.387 0.393 0.385 12.51% 24.217 28.311 33.294 34.850 38.082 12.54%
2009
2010
2011
2012
2013
GroWth
rAte
systeM DistributioN
losses
These losses were primarily caused by meter and billing errors. 16
In other words, system losses are the difference between electricity produced (as recorded by the power plants) and electricity sold to customers (as recorded by the customers’ energy metres, and billed by the utility).
15
System Distribution Losses, categorised as either technical or non-technical, can be described as when electric utilities lose some of the power generated, over the transmission and distribution system15. Technical losses are due mainly to heat dissipation in power lines that result from the transmission and distribution of electricity across the system while non-technical losses can be caused by meter errors, billing errors, and electricity theft. In 2011, JPS recorded average system distribution losses of 22.3% (see Figure 2), higher than the average for 27 Latin America and Caribbean (LAC) countries of 14.7% (Latin American Energy Organization, 2011) outperforming only six LAC countries in the survey.
JPS GeneratinG PlantS, Generation technoloGy and technical loSSeS
The generating plants located in Old Harbour, St. Catherine have been in service for over forty (40) years. As mentioned previously, plans are advanced for the retirement and replacement of 292 MW of generating capacity. The reliability of the plants is uncertain in the short-medium term and high maintenance costs further highlights the need for the proposed new plant to become a reality. The JPS mainly produces electricity using steam and slow speed diesel generators. In 2012, JPS-owned steam and slow speed diesel plants accounted for 36% of net generation compared to combined cycle plants generating about 19% with gas turbines and hydro plants producing roughly 4% each. IPPs accounted for roughly 37% of net generation mainly from the slow and medium speed diesel plants used by Jamaica Energy Partners (JEP) and Jamaica Private Power Company (JPPC).
Combined cycle technology is recognized internationally as one of the most advanced and efficient means of generating electricity. This technology allows for greater efficiency of conversion, that is, it utilizes less fuel to generate each unit of electricity relative to other generating units. Therefore, there appears to be some potential for reductions in electricity costs coming from a transition from steam-fired plants to those using combined cycle technology.
Technical losses for December 2012 were roughly 10% of net generation. The JPS estimates optimal technical energy losses based on network configuration,
topology, voltages and economic feasibility to be about 7.6% (JPS Annual Tariff Adjustment Submission, 2013). Such a reduction would be contingent on a combination of short, medium and long term strategies, of which 1.5% of the 2.4% reduction in technical losses would depend on medium to long term initiatives. Achieving further reductions in technical losses would require substantial capital expenditure to upgrade the company’s electricity generation network.
non-technical loSSeS: are hiGh electricity rateS the Fault oF the cuStomerS?
Any examination of electricity rates in Jamaica must consider the abnormally high amount of non-technical system losses: mainly caused by electricity theft (socio-economic); to a lesser extent the easy access to the network in some areas (network); and by various deficiencies of the JPS including deficient record keeping, weak internal controls, over adjustments to accounts and weak audit procedures (business). The JPS recorded system losses of roughly 25% in December 2012 of which almost 15% (60% of total system losses) were non-technical. An estimated 6.5% was lost from the 531,382 billed residential customers16 and
a further 6.5% from an estimated 150,000 unmetered households that have illegal electricity connections. A JPS commissioned study revealed three predictive variables for the amount of electricity theft in a country: poverty, the level of violence in the country and the average residential electricity bill compared to GDP per capita (OUR, 2009).
Costs incurred by the JPS from electricity theft are factored into the electricity bill since technical losses are lower than the system loss target set by the OUR. Technical losses have remained steady at around 10% for at least five years meaning that at least 7.5% of net generation losses passed on to customers are non-technical. Therefore, the high electricity rates paid by registered customers of the JPS is partly attributable to the many informal electric connections on the island.
Jamaica faces structural limitations that negatively impact electricity rates related to its size, and the absence of interconnections between Caribbean islands. It would be moot to delve further into the limitations related to Jamaica’s lack of interconnections17
and instead the focus will be on the limitation and cost disadvantage related to size.
One of the main structural factors influencing the cost of electricity is the relatively low generating capacity, resulting in the JPS and the IPPs facing diseconomies of scale18 in generation (Arbelaez and Marzolf, 2011).
Diseconomies of scale has a large impact on the cost of power generation in Jamaica and other small islands since transport and infrastructure services are likely to
cost more in small markets (Gerner, Hansen and the World Bank, 2011). This limitation, along with high fuel prices, results in the JPS facing high operating costs. Furthermore, operating costs were found to be even higher than in most Caribbean countries and were most similar to the smaller countries with lower demand. However, the integrated cost structure of the JPS makes it difficult to ascertain why its operating costs are higher than those of other Caribbean utility companies facing similar electricity demand. However, higher operating costs in the case of the JPS are likely explained by the requirement of a reserve margin of at least 25%1 as stipulated in JPS’s license, high maintenance costs on generating plants, and fuel penalties.
DisecoNoMies of
scAle
This is the opposite of economies of scale whereby instead of decreasing costs per unit increase in output, firms experience increasing marginal costs when output is increased.
Lower reserve margins generally drive up costs for consumers, triggering costly shortages when demand peaks, while a higher reserve margin would mean capital cost investment in plants that could sit idle for certain portions of the year. 18
19
Gerner, Hansen & the World Bank (2011) argued that interconnections between Jamaica and Haiti are unlikely given current technology.
Reducing the price of electricity paid by Jamaicans hinges on using newer and more efficient technologies such as combined cycle generation plants, making appropriate fuel choices for better decisions regarding base/peak load generation, making significant reductions in the prevalence of electricity theft, lowering technical losses, and continuing the transition to a billing structure that is truly reflective of JPS’s cost structure (increasing fixed charges and reducing variable charges for consumption over 100 kWh/month).
The following is a projection of the best case scenario conditions Jamaicans can expect over a 5-year horizon, which guides the estimated electricity costs presented in Table 4:
a.i.1. IPPs will supply 200 MW of peak demand to local customers; the winning bidder’s proposed plants begin supplying 381 MW by 2016 and JPS will supply the remaining 120 MW.
2. Unmetered consumption is halved to 75,000 households and non-technical losses are reduced from the current level of approximately 16% to 10% of net generation. Technical losses are reduced to 8.8% through a combination of short and medium term strategies (a further 1.2% reduction could come from medium to long term strategies according to the JPS).
3. Improvements in efficiency will logically follow from the replacement of older generating plants and planned reduction efforts. However, gains made in efficiency are mostly offset by further aging of existing JPS and IPP generating plants. Therefore, the selling price from JPS generating plants is projected to remain close to current levels.
4. Average energy demand at peak will increase from 650 MW to 680 MW by 2019 as the population increases and the price of crude oil remains roughly the same.20
Both the World Bank and the IMF project that crude oil prices could be slightly lower by 2019. However, crude oil prices are conservatively estimated to remain at current levels.
Estimates for operating loads at peak consumption are based on the premise that the JPS will use the cheapest sources first.
Price mark-ups are made by the JPS after transmission and distribution losses (mainly from electricity theft) have been incurred.
best cAse electricity rAtes
for JAMAicA
It is estimated that the JPS will add a 25% mark-up on electricity purchased from the winning bidder and IPPs, and electricity generated using its plants.
This estimate was derived on the premise that the winning bidder operates the new plants using liquefied natural gas (LNG). 20 21 22 23 24 GeNerAtiNG plANts ApproXiMAte GeNerAtiNG cApAcity (MW) estiMAteD operAtiNG loAD At peAk21 estiMAteD cost of GeNerAtiNG electricity (us$/kWh) estiMAteD cost to Jps22 (us$/kWh) estiMAteD selliNG price23 (us$/kWh)
300
381
250
931
120
360
200
680
0.256
0.1288
0.205
0.1737
0.32
0.17
240.256
0.2218
0.4
0.204
0.32
0.273
Jps
totAl
WiNNiNG
biDDer
eXistiNG ipps
Electricity rates in Jamaica rank near the middle of the group of Caribbean countries, a Region with some of the highest rates in the world. Inefficient generators are the main non-fuel related reason for the high electricity rates followed by costs passed onto customers from electricity theft and JPS’s inefficient plants. The billing of customers using a highly consumption-sensitive billing structure contribute to a lesser extent to average rates of J$38/kWh (US$0.35/kWh) for electricity consumption of 175 kWh/month. If system losses are reduced to optimal levels, planned improvements are made to generating plants, and gains are made in JPS’s operating efficiency then Jamaicans could be paying J$30/kWh (US$0.27/kWh) for electricity by 2019.
coNclusioN
biblioGrAphy
(2013, November 24). act now on energy. Jamaica Gleaner. p. i4.
Arbelaez, J. P., & Marzolf, N. C. (2011). Power and Possibility: the energy Sector in Jamaica (no. 41878). inter-american development Bank.
Gerner, F., Hansen, M., & World Bank. (2011). caribbean regional electricity supply options: toward greater security, renewables and resilience. Washington, d.c: World Bank.
Government of Jamaica, Office of Utilities Regulation (2009). Jamaica Public Service company: tariff adjustment for period 2009-2014 - determination notice. kingston, Jamaica.
Government of Jamaica, Office of Utilities Regulation (2013). JPS annual tariff adjustment 2013: determination notice. kingston, Jamaica.
Inter-American Development Bank (IDB) & Bloomberg New Energy Finance (BNEF) (2013). climateScope 2013. available at http://www5.iadb.org/mif/file.aspx?docnum=38168432
Jamaica Gleaner (2014). “OUR Considering Energy World International License”. January 31. available at http://jamaica-gleaner.com/latest/article.php?id=50840
OECD (2013), oecd Factbook 2013: economic, environmental and Social Statistics, oecd Publishing.
OLADE (Latin American Energy Organization) (2011). energy economic information System (Siee). available at http://expertosenred.olade.org/electricidad/wp-content/uploads/sites/9/2013/10/Perdidas-en-alc-2011. pdf
The Jamaica Public Service Co. (2013). the Jamaica Public Service co. ltd annual tariff adjustment Submission for 2013. kingston, Jamaica.
U.S. Department of Energy (2013). annual energy outlook with projections: 2013 with projections to 2040: u.S energy information administration.