Tag: CUC

OfReg and CUC to define ‘fair price’ on solar

OfReg and CUC to define ‘fair price’ on solar

| 19/11/2022 | 40 Comments

(CNS): Both the Utility Regulation and Competition Office (OfReg) and Caribbean Utilities Company have begun separate and independent studies to gather evidence on a price that is fair for solar providers and for customers as the Cayman Islands inches towards a much-needed expansion of alternative, renewable fuel supplies. But in the face of the current […]

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CUC customers cut use but growth fuels profits

CUC customers cut use but growth fuels profits

| 31/10/2022 | 16 Comments

(CNS): With over 900 more new customers, as Grand Cayman’s population continues to grow, Caribbean Utilities Company continued to generate profits in the last quarter, even as people begin to reduce their electricity consumption. According to the power provider’s latest unaudited accounts for the three months ended 30 September, the period reflected a 3% growth […]

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Domestic light bill subsidy extends to year-end

Domestic light bill subsidy extends to year-end

| 27/10/2022 | 29 Comments

(CNS): The Cayman Islands Government has announced a three-month extension to the Electricity Assistance Programme (EAP) until the end of the year to help the public cope with what would otherwise have been a significant leap in monthly bills. Even though we can expect the next three months to be cooler than the last three […]

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CUC cuts deal for long-awaited energy storage

CUC cuts deal for long-awaited energy storage

| 29/09/2022 | 36 Comments

(CNS): Caribbean Utilities Company (CUC) has signed a deal with a global energy company to install two 10-megawatt storage systems. This will be the local power provider’s first storage facility, which was approved by OfReg more than three years ago. The project is expected to be finished late next year and will enable CUC to […]

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CUC defers proposed base rate hike of 5.4%

CUC defers proposed base rate hike of 5.4%

| 01/08/2022 | 32 Comments

(CNS): There will be no increase in the base rate that the Caribbean Utilities Company charges customers this summer as Grand Cayman’s power provider has deferred its annual increase until January. CUC said it took the decision not to increase the base rate, which was expected to have been around 5.4%, because of the “increasing […]

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More customers and consumption fuel CUC earnings

More customers and consumption fuel CUC earnings

| 29/07/2022 | 25 Comments

(CNS): With the economy recovering from the pandemic and a rise in the number of customers using more power, CUC’s earnings increased by around $1.9 million in the first half of 2022 compared to 2021. In a release issued Friday detailing the unaudited accounts up to 30 June 2022, Grand Cayman’s power provider said a […]

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Residential fuel costs capped at 15 cents per kWh

Residential fuel costs capped at 15 cents per kWh

| 01/07/2022 | 77 Comments

(CNS): The Cayman Islands Government has announced the start of a fuel cost credit to residents across all three islands who use between 101 and 2,000 kilowatt-hours per month capped at $0.15 per kWh, no matter how high fuel factor costs get over the summer months. Anticipating a sharp increase in power costs, the CIG […]

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Ebanks appointed as first woman chair of CUC

Ebanks appointed as first woman chair of CUC

| 12/05/2022 | 20 Comments

(CNS): More than 55 years since the company was founded, Caribbean Utilities Company has appointed its first woman board chair. Following a meeting of shareholders on Tuesday, Sheree L. Ebanks was confirmed as the head of the board of directors, replacing David Ritch, who retired after 33 years of service as a board director at […]

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OfReg opens bid for 23MW solar plant

OfReg opens bid for 23MW solar plant

| 22/04/2022 | 18 Comments

(CNS): The utilities regulator is looking for expressions of interest from qualified bidders to build a dispatchable solar photovoltaic (DPV) plant and an energy storage facility. The quest for this new plant is part of the country’s efforts to reduce its diesel dependence and a step towards the extremely ambitious target of generating 70% of […]

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Development drove CUC’s 2021 profits

Development drove CUC’s 2021 profits

| 14/02/2022 | 37 Comments

(CNS): The growth in the number of new homes and commercial premises across Grand Cayman fuelled the profits for the local power provider, Caribbean Utilities Company, last year, by increasing its customer base. Although there were few tourists, there was a 3% increase in sales in 2021 resulting from the completion of new condominiums, family […]

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Downtown road paving begins with Cardinall Ave

Downtown road paving begins with Cardinall Ave

| 25/01/2022 | 150 Comments

(CNS): By 31 January, most of Cardinall Avenue will be closed to general traffic as government begins the long-awaited pedestrianisation of downtown George Town as part of the revitalisation of the capital. This first change will see the section of the road between Seafarers Way and Albert Panton Street paved with coloured concrete after the […]

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