KINGSTON, Jamaica — The Small Businesses Association of Jamaica (SBAJ) has launched a forceful appeal against Jamaica Public Service (JPS) and the Office of Utilities Regulation (OUR), urging them to abandon a proposed seven per cent increase in electricity rates. SBAJ President Garnett Reid emphasized that Jamaican consumers and businesses already contend with some of the world’s highest energy costs, making the timing of this hike particularly detrimental.
Reid questioned the justification for the increase, pointing to the utility company’s historical profitability. “Given the billions in profits accumulated over the years, we are compelled to ask where these funds have been allocated,” Reid stated. “It is unreasonable for the company to further burden Jamaicans by requesting what amounts to a $150 million loan from consumers, on top of a recent US$50 million drawdown from the OUR.”
The appeal highlights the nation’s ongoing recovery from Hurricane Melissa, arguing that economic fragility demands compassion, not additional financial pressure. Reid called on international shareholders from Japan and Korea to consider the severe impact on the Jamaican populace.
Furthermore, the SBAJ cited the exodus of major corporations, including Icool, Colgate, and Palmolive, which have relocated operations to Caribbean neighbors like Trinidad and Barbados due to more competitive energy rates. This trend, Reid warned, threatens to continue if Jamaica’s energy market remains uncompetitive.
In response to the crisis, the association is advocating for structural reforms. This includes a call for the government to dismantle JPS’s monopoly by inviting alternative power providers to operate in Jamaica. Additionally, the SBAJ is encouraging a national shift towards renewable energy sources, such as solar power, to reduce dependency on the traditional grid and foster long-term economic resilience.