Tag: Caribbean Utilities Company
CUC weathers COVID storm
(CNS): Grand Cayman’s power provider has seen only a small decline in its profits as a result of the COVID-19 pandemic. The company’s third quarter results show that despite a decline in the number of people now living in the Cayman Islands, the company’s customer base grew by 641 compared to September 2019 and CUC […]
Public ‘freaks’ over CUC bills
(CNS): Grand Cayman’s power provider, Caribbean Utilities Company, was at the centre of a social media storm this week as power bills began arriving in people’s inboxes. The public freaked out over higher than expected charges, accusing the power providers of gouging. CUC has not answered direct inquiries on this yet but it appears there […]
CUC gets greenlight for battery storage
(CNS): The utility regulator, OfReg, has approved a 20-megawatt utility-scale battery installation for Grand Cayman’s power provider, CUC, paving the way for the company to store renewable energy for back-up power at its North Sound Road plant. CUC said it could save customers a collective $5 million per year. Its primary function will be to […]
Regulator approves CUC hike
(CNS): The Utility Regulation and Competition Office (OfReg) has approved CUC’s application for a base rate increase, beginning with power used last month, in accordance with the monopoly power provider’s licence. CUC said its customers would “see a marginal increase in the energy charge component of their bills” for the electricity they had already used […]
CUC blames substation upgrades for power cuts
(CNS): An increase in the amount and length of power cuts and number of customers affected recently is due to upgrades CUC has been undertaking at various substations on Grand Cayman, according to the power company. With the exception of North Side, customers east of Prospect have experienced above normal levels of outages over the […]
Growing customers boost CUC coffers
(CNS) UPDATED: A 4% increase in sales along with lower costs and finance charges resulted in a boost in earnings for Grand Cayman’s monopoly power provider during the first quarter of this year. In the first report of 2019 CUC recorded net earnings of $4.5 million, an increase of $1.8 million on the same period […]
Growth in customers props up CUC earnings
(CNS): An increase in the number of customers for CUC helped to keep the monopoly power provider’s earnings up in its third quarter results for the year after slightly cooler and wetter average weather. An increase in fuel costs saw customers cutting back on consumption, which also impacted sales. The client base increased by 567 customers to a […]
LED street lights to cut 195,000 gallons of diesel
(CNS): Grand Cayman’s power provider, CUC, has embarked on a major project, in partnership with the National Roads Authority, to replace the street light bulbs on Grand Cayman with LEDs (Light Emitting Diodes). Once complete, there will be a total reduction per year of 195,00 imperial gallons of diesel burnt to keep our roads and pathways […]
CUC sales boosted by 2% customer increase
(CNS): Grand Cayman’s monopoly power provider has enjoyed another profitable quarter, despite paying for improvements to the system, largely due to a 2% increase in customers. For the three months ending 30 June, the Caribbean Utilities Company (CUC) saw a $900,000 increase in earnings compared to the same period last year. The firm recorded $14.5 million in […]
CUC’s use of renewable energy up 250%
(CNS): As Caribbean Utilities Company published its financial results for the first quarter of 2018 this week, Grand Cayman’s power provider has also revealed an increase in renewable energy use on the grid from 1 million kilowatts to 3.5 million kilowatts — a 250% jump from the same period last year. The company’s residential customer base […]
