CIG to create utilities commission
(CNS): The government is making plans to create a public utilities commission, which will among other things regulate the fuel sector. Premier Alden McLaughlin is calling on the two oil suppliers to be more transparent about fuel pricing. Falling short of announcing possible price regulation at the pump, he said his government was “prepared to make other legislative changes if necessary to protect consumers”.
During his State of the Nation address last week at the Fidelity CEO conference, McLaughlin said that as well as reducing the import duty charged on diesel brought in by Caribbean Utilities Company from 75 cents a gallon to 50 cents, government was committed to reducing the overall cost of fuel to consumers. He spoke of government looking at a possible third wholesale supplier coming into the jurisdiction to improve competitiveness but called on the existing companies to “become more transparent to help ensure that residents are paying a fair price for fuel while allowing the oil companies an equitable profit”.
Hs said, “We have invited the oil companies to work with government but we are also moving to create a public utilities commission, which will have as part of its remit the regulation of the fuel sector. We are also prepared to make other legislative changes if necessary to protect consumers.”
He said the utilities commission would regulate prices and help with transparency, introducing closer scrutiny of the fuel distribution business.
McLaughlin’s comments come in the wake of similar calls from the opposition leader, who has filed a private members motion in the Legislative Assembly calling on government to deal with the prices at the pump, laws to regulate the sector and the transparency issues over how the prices rise and fall.
Category: Economy, Government oversight, Politics
then why do we have so many people from “foreign” in the CIG
Gas station & shop owners who’s price gouging will be exposed now lmao, UDP never did that, “TAKE DAT”
Gas station owners sit in the MLA so good luck with dealing with them!
About time to deal with these thieves around here including the shop & gas owners
Having fuel that was clean would be a help. How many boat owners are having problems with filters, mpg etc…..?
Still more government employees to be created with their non contributory pension and health schemes for the tax payer to pay for.
Whats your beef? You don’t have an official welfare state but you do have employment in CIG which amounts to the same thing. What else would you have them do?
The announcement does not make clear if this new body will replace the ERA? We don’t need fuel regulation. What will come with that is more government employees with massive overheads and little output and more tax. What is needed is free competition in the fuel business and pricing will be as good as it can be. Government seems to think that growing (think department of “gender affairs”) is action. All this amounts to is talk and expenditure which can be translated into vote buying. Anyone can tax and spend. I’ll think positively when I see government shrinking and cutting waste (remember gasboygate?) and understanding that it needs to stick to its core mission.
So let us be honest and just say it is the equivalent of handouts in a welfare state but in Cayman we disguise it by creating jobs that really have no substance or reason for them.
Yep!
I am good with this new commision. 10 new jobs means 10 less otherwise unemployable people that I will be forced to interview to replace my competent staff.
So sad but so true. Government is the employer of last resort, which is slightly fancy jargon for “if you are Caymanian and cannot get a job, Government will employ you.”
That’s really a very arrogant attitude.
But true, n’est ce pas?
I so agree with you on this. Why can’t government workers pay their own pension and health insurance?? Yet, they have the nerve to complain about Cinico’s horrible service when they aren’t even paying for it. To add to that, many Civil Service employees are upset they can’t withdraw or move their pension when they have not paid in to a pension scheme either. WTF?!?!
Yet the cost of gasoline in Cayman remains at levels that could only have been calculated using a greed equation.
Instead of making empty threats, for the purposes of political mileage, the Premier should have his Government bring legislation now!!! Not when the cost per barrel shoots back up to a point where the savings now being enjoyed by everyone else is but a distant memory.
Nothing will come of all this talk, trust me. An d we will continue to be raped by the greedy in this country. Keep draining the middle class, lets see how long you have a country without them.
Forcing *Transparency* is a great idea. Forcing *regulation* is a terrible idea.
Forcing transparency allows the public to be aware of exactly how fuel cost reductions are passed to the consumer where they can raise hell about it.
Forcing regulation puts the government into the fuel businesses, and government is clueless about running any business whatsoever. In fact there is likely nothing more incompetent than a government bureaucracy in terms of producing operational surpluses and cost reductions. All they understand is bankruptcy and borrowing more the get our of it continually. The last thing you need is an intertwined government forcing businesses to lose profit for shareholders and driving them into bankruptcy as they do with just about all government funds.
Are you a gas station owner by chance? Do you own shares in CUC?
No, I just believe in free markets, not in government dictatorships. Be it Fuel, food, services, or finance.
agree
Plans and promises! Let’s see them put their words into action before we buy this bag of goods. Politics are based on promises, progress is based on actions.
You are so right! Why didn’t they do this a long time ago like before signing all those terrible and long contracts with CUC? They let all these companies rape Cayman’s people over and over. Guess the PPM has too many gas station owners as supporters and even a foul mouthed minister. If we the people would not be putting pressure on them they wouldn’t be paying this lip service. I will have to see it to believe it. Another thing is they need to do something about employment for Caymanians too! But the smart premier must believe that Caymanians do not aspire to become managers too judging by his latest headline about more work permits. The more expat managers come here the more friends they bring for important positions and Caymanians continue to be marginalized! We don’t want just secretarial positions Alden!!!!!!