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Higher Electricity Rates Forecasted for Jamaica in 3 Simple Charts


Jamaica's Electricity rates are projected to climb steadily over the coming years. This is an unfortunate fact given oil price and exchange rates steady increases. The chart below illustrates just how closely the two have been rising together over the years.


When the cost of Crude Oil is converted to Jamaican dollars its a bit amazing how the country isn't paying far more for electricity. The chart below highlights the cost of oil in Jamaican dollars.


The above charts therefore means only one thing. Electricity cost are expected to continue the upward trend experienced over the years.


The most important take away from this is that the country as a whole must be driven to be more efficient and productive or face the perils of higher production cost and resulting uncompetitiveness. What the Jamaica Public Service has done over the past few years to keep rates where they are is somewhat commendable given the data and as a result Jamaicans must take heed.



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