Price hike fuels CUC profits in 2015

| 19/02/2016 | 0 Comments
Cayman News Service

CUC crew at work

(CNS Business): Grand Cayman’s power provider, CUC, cleared a $2 million profit last year as a result of a 3% growth in sales and a hike in the base rate last June, according to its latest financial report. In the last quarter of the year the electricity company saw a an 8% growth in sales, leading to the year-end earnings of $22.8 million.The president and CEO of CUC, Richard Hew said sales and earnings were positive but he was pleased that customers received a significant reduction in electricity costs from lower fuel prices, which he said were passed on.

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