Prime minister Andrew Holness says government is taking steps to help reduce cost of living, by diversifying energy sources, which will result in lower energy bills.

Mr. Holness explains that a memorandum of understanding signed yesterday with two Canadian companies, is part of this effort to reduce the country’s reliance on fossil fuels.

He says cost of living has increased since the covid pandemic and the war in Ukraine and this is seen not just with food prices but the cost of electricity.

The Prime Minister says once the cost of energy is high, there is a ripple effect.

According to Mr. Holness, the government is working hard to address the issues.

He says the steps being taken now to reduce the cost of living are strategic decisions.