Fuel costs fall as earnings rise for CUC

(CNS Business): Grand Cayman’s monopoly power provider enjoyed an increase in net earnings of some $2.4 million last year but CUC said the average cost of bills still fell by almost 32% by the year-end compared to consumer bills at the end of 2014. The power provider said that the combination of a fall in global fuel prices, a cut in government duties and improved efficiency from its new 40MW plant has made power cheaper for consumers. As the firm announced its annual results for 2016 and an increase in sales and profits, it also released information on customer costs.

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