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Net Billing Resumes Today

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Effective today, customers of Jamaica Public Service Company (JPS) can apply for licences to sell their excess electricity generated from renewable energy sources to the national grid.

The decision was made following a meeting between the Ministry of Science Energy & Technology, the Office of Utilities Regulation (OUR) and JPS last week.

According to portfolio Minister, Dr Andrew Wheatley, the OUR will now resume accepting applications for net billing under similar terms as the previously-concluded net billing pilot project until the details of a permanent programme are finalized.

“The persons already connected to the grid for these other purposes, are being encouraged to regularise their status by making the relevant application for a licence to the OUR within a six-month amnesty period, commencing on Monday, April 11, 2016”, the Energy Minister said.

The move is an effort by the ministry to continue to strengthen the development of the renewable energy sector in accordance with the National Energy Policy.

The two (2) year pilot programme was extended to May 2015, as the system peak demand threshold for net billing was not met. As at March 2015, 351 applications were received, 311 of which were granted licences.

The net billing pilot programme was given the legislative underpinning in the Electricity Act, 2015 and based on the review of the pilot, undertaken by the OUR with the support of the National Renewable Energy Laboratory, several other improvements arising from the recommendations will be enshrined in regulations.

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John Mahfood “I Listed on the JSE to Raise Capital for My Business”

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JSE Online Trading Platform

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Grace Stockholders To Vote On 3-for-1 Stock Split Today

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Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

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UK Loses S&P Triple A Rating

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The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

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Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

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Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.

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