The Private Sector Organization of Jamaica (PSOJ) is urging the government, regulators, energy providers and the private sector to move decisively to strengthen the country’s energy security.
The PAOJ says higher fuel prices can quickly increase the cost of electricity, transportation, freight, production and distribution, which its Energy, Environment and Climate Change Committee says is placing additional pressure on households, businesses and Jamaica’s competitiveness.
The organization is calling for a coordinated effort to fast-track responsible renewable energy projects, particularly solar generation, battery energy storage and energy-efficiency initiatives, with clear targets to be achieved before 2030, remove unnecessary regulatory, administrative and infrastructure barriers that delay private investment and modernising the electricity grid, among other measures.
It is also calling for the government and the Jamaica Public Service Company to bring the current negotiations on a new electricity licence to a timely conclusion.