FOR IMMEDIATE RELEASE
Rising Oil Prices Reinforce Urgent Need to Accelerate Jamaica’s Energy Transition
KINGSTON, September 29, 2026: The Private Sector Organisation of Jamaica (PSOJ) is urging the Government, regulators, energy providers and the private sector to move decisively to strengthen Jamaica’s energy security.
The PSOJ, through its Energy, Environment and Climate Change Committee (EECC), said higher fuel prices can quickly increase the cost of electricity, transportation, freight, production and distribution, placing additional pressure on households, businesses and Jamaica’s competitiveness. Small and medium-sized enterprises, which often have limited capacity to absorb rising costs, are especially vulnerable.
“Every disruption in the global energy market reminds us of the risks created by our dependence on imported fuel,” said PSOJ President, Patrick Hylton. “Jamaica must act with greater urgency to reduce that vulnerability. We have an abundant, reliable energy resource in the sun, and we must responsibly and aggressively expand the deployment of solar and other renewable-energy projects before 2030.”
The PSOJ 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 in renewable energy and self-generation.
- Modernise the electricity grid so it can safely accommodate more distributed renewable generation and energy storage.
- Strengthen contingency planning for sustained oil-price increases and disruptions to global energy supplies.
- Assess the impact of high fuel prices on electricity, transportation, logistics, manufacturing, agriculture, tourism and MSMEs.
- Maintain transparent, regular engagement among the Government, regulators, energy providers and the private sector on Jamaica’s energy transition.
- Provide targeted, temporary and fiscally responsible support where necessary to protect productive capacity and vulnerable businesses.
The PSOJ is also calling on the Government and the Jamaica Public Service Company (JPS) to bring the ongoing negotiations on a new electricity licence to a timely conclusion. Prolonged uncertainty is not in the public interest and risks delaying investment, grid improvements and the broader transition to a more reliable and affordable energy system.
A clear and timely resolution would provide greater certainty for consumers, investors and energy providers while allowing all stakeholders to focus on the urgent work of modernising Jamaica’s electricity sector.
“Renewable energy is no longer simply an environmental objective,” Mr. Hylton said. “It is central to affordability, business continuity, national resilience and Jamaica’s ability to compete. We must harness the sun more effectively, expand renewable generation responsibly and create the conditions for investment to proceed without unnecessary delay.”
The current rise in oil prices is a clear reminder that Jamaica cannot afford to postpone energy reform. Accelerating renewable-energy deployment before 2030, resolving the electricity-license negotiations and modernising the national grid must be treated as immediate priorities.
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MEDIA CONTACT
Velton Gooden Jr.
Communications Associate
The Private Sector Organisation of Jamaica
Email: veltong@psoj.org
Telephone: (876) 836-4285