In a decisive move to accelerate national power restoration efforts, Jamaica’s Energy Minister Daryl Vaz announced on Tuesday that the government has approved a $150 million emergency loan to the Jamaica Public Service Company (JPS). However, the government firmly rejected any early extension of JPS’s operating licence beyond its 2027 expiration. The loan, expected to be disbursed at a rate of $75 million per month, aims to expedite repairs to the electricity grid devastated by Hurricane Melissa on October 28. Vaz emphasized that the funds would enable JPS to mobilize resources and restore power to major areas by late January or early February 2024. The minister clarified that the loan is strictly separate from ongoing discussions about JPS’s licence renewal, ensuring no delays in recovery efforts. He highlighted that the government’s approach preserves its negotiating leverage, particularly as JPS had sought a 15-year licence extension in exchange for self-financed recovery. Vaz assured that the loan, spanning five years with an interest rate to be finalized by the Ministry of Finance, poses no risk to taxpayers. JPS has the option to repay the loan within two years, and if the company fails to secure a renewed licence by 2027, the government is prepared to acquire its assets. Updated assessments now estimate hurricane damage at $350 million, significantly lower than earlier projections of $480–$600 million. Meanwhile, JPS has suspended dividend payments until full restoration is achieved. Opposition energy spokesman Phillip Paulwell raised concerns about transparency, urging the government to secure concessions from JPS, including grid access, renewable energy flexibility, and cheaper power for industrial zones. Paulwell also called for structural reforms to address long-standing issues like monopoly control and electricity pricing, suggesting that the loan should push for greater flexibility in crisis situations, such as allowing private solar systems to share power with neighbours during outages.