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Jamaica - Energy sector strategy and investment planning study (Vol. 3) : Power sector review & energy conservation (English)

Building on structural adjustments begun in the mid-1980s, Jamaica now has the prospect of extending its recovery and sustaining economic growth at 3 to 4 percent a year during the 1990s. The burden of the energy sector on the economy decreased as a result of the drop in oil prices after 1986; however, Jamaica was among the hardest hit by price increases caused by the Persian Gulf Crisis in 1990. This shock reinforced concerns for the need to improve efficiency in the energy sector and reduce the energy intensity of the economy and its dependency on imported oil, which supplies more than 90 percent of Jamaica's commercial energy needs. The possibilities of increasing the mobilization of capital resources, and of improving the operating efficiency of the capital-intensive petroleum and power sectors, are apparent though expressions of interest by the private sector of participating in these subsectors with the ultimate objective of full divestiture by the government. The strategy recommended in this report supports the development of the energy sector with increasing private sector involvement through the further liberalization in the petroleum sector, preparation for divestiture of the power company (Jamaica Public Service Corporation) and the refinery (Petrojam), and development of energy conservation programs based on economic pricing and entrepreneurial pursuit of energy savings opportunities.

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Jamaica - Energy sector strategy and investment planning study (Vol. 3) : Power sector review & energy conservation (English). Energy Sector Management Assistance Programme,no. ESM 135/92 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/942361468771888918/Power-sector-review-energy-conservation