Azurest promising to make drastic cut to electricity costs Last Updated: 10:08 AM One of the companies seeking to become the preferred bidder for the much-anticipated 360-megawatt electricity-generating project is promising to cut electricity costs by half by 2015 should it be selected. Azurest Cambridge Power has promised to also sweeten the deal with a US$1.5-million investment to go directly towards scholarships and international training for persons in various sectors and towards city beautification. Addressing a media briefing at the Terra Nova Hotel yesterday, managing director of Azurest Partners, Kenneth Allen said the company has invested heavily in ensuring that Jamaica and consumers will reap big. He claims the company could take electricity prices down to between 15 and 20 cents per kilowatt hour using gas from the United States. Currently, the cost of electricity to the Jamaica Public Service customers stands at approximately 42 cents per kilowatt-hour. The firm is also hoping its proposal will stand out because of the speed at which it plans to construct its generating plant for the supply of the 360-megawatt of power. Allen says if the Office of Utilities Regulations (OUR) gives Azurest Cambridge Power the go-ahead, construction will begin from as early as the first quarter of next year. He says the facility should be fully operational in less than two years. The OUR recently received final proposals from four entities vying to construct the plant. The companies include Energy World International of Hong Kong, Optimal Energy Limited, Energise Jamaica Limited and Azurest Cambridge Power.
Posted on: Fri, 16 Aug 2013 19:10:33 +0000
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