Tag: CUC
OfReg’s ‘solar bid’ was meant to replace CON
(CNS): CUC delayed submitting a certificate of need (CON) for more fixed generating power because OfReg had planned to solicit bids for an additional 22.5 MW of solar as an alternative in 2021. CUC told CNS that OfReg had accepted the alternative proposal and agreed it was more appropriate than a traditional CON. However, CUC […]
OfReg rejects solar storage answer to firm power need
(CNS): In another blow for the future of green energy in Cayman, due to CUC’s licensing deal and its obligations to supply ‘firm’ rather than renewable energy, OfReg’s position on the power provider’s Certificate of Need will mean that it will be generating more, not less, electricity through fossil fuels over the coming years. With […]
CUC urge equitable rollout of solar for greener economy
(CNS): Caribbean Utilities Company said it welcomed the publication of the Value of Solar Study (VOSS) that was released by OfReg last week. The power company that owns the electrical infrastructure on Grand Cayman and generates more than 90% of the power through diesel said it strongly supports increasing solar deployment in a manner that […]
CUC says bills are getting cheaper as fuel rates fall
(CNS): Grand Cayman’s power provider has said that residents have seen a fall in their January bill this year by around 16% compared to the first month of 2024. CUC said the investment it has made in the transition to a renewable, resilient and affordable energy system is now showing up in bills. Residential customers […]
CREA welcomes ‘long overdue’ increased solar rate
(CNS): James Whittaker, the president of the Cayman Renewable Energy Association (CREA), has welcomed the recent changes made to CUC’s Consumer Owned Renewable Energy (CORE) programme after OfReg announced the rate paid by CUC to domestic renewable energy producers would increase. He said the long overdue improvement had been eagerly anticipated but disputed CUC’s claims […]
OfReg blames CUC for stifling solar with low CORE rates
(CNS): The utility regulator has approved new rates and capacity brackets to increase the number of people on Grand Cayman taking up renewable energy generation options. OfReg said CUC’s Consumer Owned Renewable Energy (CORE) programme rates have stifled the adoption of green energy in Cayman and have done nothing to advance sustainability goals in the […]
Power conference opens with regulatory meeting
(CNS): The Caribbean Electric Utility Services Corporation (CARILEC) and Caribbean Utilities Corporation (CUC) are hosting the annual CARILEC Resilient Energy Community (CAREC) Conference in the Cayman Islands this week. Over 120 members of the energy sector, including industry experts, government officials, regulators, renewable energy innovators, and stakeholders from the Caribbean, will meet under the theme […]
Power outage at prison impacts inmates and security
(CNS): The Cayman Islands Government has finally confirmed that HMP Northward lost power on Sunday. While officials have remained extremely tight-lipped about the consequences, CNS understands there have been significant security concerns. Power was lost as the Caribbean Utilities Company (CUC) was conducting routine maintenance.
CUC to raise $53M with rights offer to shareholders
(CNS): Caribbean Utilities Company Ltd (CUC), Grand Cayman’s power provider, is hoping to raise US$51.3 million by offering its Class A ordinary shareholders the opportunity to buy additional shares. CUC said it intends to use the proceeds to finance alternative energy projects, ongoing additions and upgrades to its generation, transmission and distribution systems, and general […]
CEO: OfReg blocked additional CUC rate hike request
(CNS): Following backlash about the CUC base rate hike this summer, OfReg CEO Sonji Myles has said the utilities regulator had no choice but to approve the annual rate hike because it complied with the conditions of the licence. However, he said that OfReg had blocked a proposal by the power provider that would have […]
CUC increases base rate on electricity bills by 3.2%
(CNS): The Utility Regulation and Competition Office (OfReg) has approved an annual base rate increase of 3.2% on CUC bills, which will come into effect on power used by customers from 1 June. The hike comes as Cayman Islands residents are struggling with the rising cost of living and after CUC saw its earnings increase […]
