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Jamaica Public Service Company Ltd - JPS Appeals Rate Determination Published: 09 February 2015

On Friday February 6, 2014, The Jamaica Public Service Company (JPS) announced that it will be appealing the Rate Determination handed down by the Office of Utilities Regulation (OUR) a month ago.

In making the announcement at a media briefing at the Company’s head office in Kingston to, JPS President & CEO, explained: "After careful review of the OUR’s ruling, and the potential impact on the country’s energy sector, we have decided to appeal the Rate Determination. We believe that it is in the best interest of Jamaica to have an objective, independent appellate body review the matter, in keeping with our operating Licence. This is not simply an appeal about a percentage increase," she said. "We are appealing specific Regulatory principles – which need to be addressed in order to avoid a damaging precedent, with potentially devastating consequences for the energy sector."

The JPS CEO indicated that she could not get into details of the Appeal, but indicated that there are specific Regulatory principles which the Company believes should be reviewed. "The first is the issue of Legitimate Cost Recovery. Like any other business, we believe the utility should be allowed to recover legitimate costs incurred in the operation of the business," Ms Tomblin said. "The second principle on which the Appeal is based is Equity: JPS is simply asking to be treated like other investors in the energy market."

Ms Tomblin further indicated that the primary objective of the Appeal is to ensure that Jamaica has a strong energy sector that can fuel economic growth. "This Appeal is not just about JPS," she said. "We believe Jamaicans should not be asked to settle for a utility that is barely limping along. We are fighting for a utility that can be strengthened to be able make the investment necessary to deliver world class service to our customers – the type of service that Jamaica deserves."

Trinidad Cement Ltd - Rescheduled Special Meeting Published: 09 February 2015

Trinidad Cement Ltd advised of its rescheduled meeting on Monday, February 9, 2015 at 5:00p.m to be held at the La Boucan Hilton Trinidad & Conference Centre, Lady Young Road, Port of Spain Trinidad.

Jamaica Public Service Company Ltd - Government Approved JPS' 190 MW Gas Project Published: 09 February 2015

Energy Company, Jamaica Public Service Company Limited (JPS), received formal approval from the Jamaican Government for its proposal to proceed with the construction of a 190MW plant to replace the company’s existing units at the Old Harbour power station, located on the southern coast of Jamaica.

JPS is pursuing fuel diversification of its power generation fleet (new and existing), consistent with the Jamaica National Energy Policy, to reduce dependence on liquid fuels such as Diesel and HFO#6, in favour of lower cost Natural Gas. A market study undertaken by JPS in 2014 indicated that Liquefied Natural Gas (LNG) and Natural Gas Liquids (NGL’s) such as propane and ethane, are viable options for power generation and can realise significant reduction in the cost of electricity.

JPS has subsequently defined a gas-powered generation project through collaboration with the Electricity Sector Enterprise Team (ESET) established by the Jamaican Government. The project has now received formal approval by the Government and has been awarded to JPS.

The Project is to be located at the existing Old Harbour site and is nominally rated at 190 MW under site conditions (197 MW – new and clean). JPS also seeks to convert the existing Bogue combined cycle project in Western Jamaica to gas fuel as expeditiously as possible. The primary objectives of the projects are to reduce costs, reduce electricity price volatility through establishing fuel diversity, and to provide flexible generation (fast start and ramp), allowing the integration of intermittent resources to further enable the Government’s Energy Policy to provide up to 20% of Jamaica’s energy from renewable generation projects.

Carreras Limited - Dividend Declared Published: 09 February 2015

The Board of Directors of Carreras Limited has declared an interim dividend of $1.60 per share payable on March 12, 2015 to shareholders on record as at February 20, 2015. The ex-dividend date is February 17, 2015.

Access Financial Services Ltd - Dividend Declared Published: 09 February 2015

Access Financial Services Ltd has advised that at its meeting held on January 29, 2015  declared an interim dividend of $0.1821 per ordinary stock unit. Dividend will be paid on March 20, 2015 to stock holders on record as at March 6, 2015. The ex date is March 4, 2015.

Lasco Distributors Ltd - Distributor Appointment Published: 09 February 2015

Lasco Distributors Ltd has advised that it was appointed distributors of UNILEVER CARIBE for distributing Uniliver home and personal Care products listed below for the territory of Jamaica.

  • Breeze                                                                     
  • Mistolin                                              
  • Quix
  • Radiante
  • Comfort
  • Axe
  • CIF
  • Degree
  • Dove
  • Suave
  • Vaseline Intensive Care Lotion
  • Qtips
  • Ponds

LASCO Distributors will be responsible for the distribution of these Uniliver products effective February 1, 2015.