The General Consumption Tax, GCT on electricity for postpaid residential customers of the Jamaica Public Service Company, JPS will be reduced from 15 to 7 percent, effective May 1.

Finance Minister Fayval Williams made the announcement during the opening of the Budget Debate in Parliament yesterday.

The reduction will benefit low income households, as well as home based small businesses. 

The minister further stated that postpaid JPS customers will  benefit from rebates and subsidies, soon. 

She added that the government has allocated one billion dollars to assist 20,000 first time prepaid JPS customers.

Four thousand dollars will also be credited to the JPS accounts of these first time prepaid customers.