Electricity Disaster Fund (EDF) has upwards of 50 Million USD prior to Hurriane Beryl. These are funds contributed by JPS customers on a monthly basis. However, in the event of a Hurricane or an emergency, only the JPS can claim from the fund for damage despite the premium being paid by its customers. This is just one example of the many flaws of the existing licence and one key area that this Government will be addressing before the issuance of a new license.
2:02
Electricity Disaster Fund (EDF) has upwards of 50 Million USD prior to Hurriane Beryl. These are funds contributed by JPS customers on a monthly basis. However, in the event of a Hurricane or an emergency, only the JPS can claim from the fund for damage despite the premium being paid by its customers. This is just one example of the many flaws of the existing licence and one key area that this Government will be addressing before the issuance of a new license.
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