Tag: CUC
CUC rolls out non-renewable charging stations
(CNS): Caribbean Utilities Company is rolling out an electric vehicle charging station initiative, offering to install stations in business and residential strata car parks and to maintain them for an annual fee. Users will be charged for the power via an app. Grand Cayman’s power provider is promoting the stations as a sustainable project, but […]
CUC blames consumption for higher bills
(CNS): Caribbean Utilities Company (CUC) has said there has been no increase to the base rates on bills that were dispatched this week. Responding to customer concerns that May’s electricity bills are even more painful than usual, Grand Cayman’s power provider said there was only a marginal rise in the fuel rate, but increased consumption […]
OfReg clears more piecemeal CUC green capacity
(CNS): The Utility Regulation and Competition Office (OfReg) has given CUC the green light to release another 6MW of capacity for the Consumer-Owned Renewable Energy (CORE) and Distributed Energy Resources (DER) programmes in the continuing piecemeal approach to the adoption of renewable energy in Cayman. As the clock ticks on the government’s unrealistic goal to […]
CUC starts 2023 with profit of $5.2M
(CNS): CUC’s unaudited results for the first three months of 2023 saw the monopoly power provider start the year with a profit of $5.2 million. This was a slight drop in net earnings in the first quarter of last year due to increased financing, depreciation and other general costs. However, both sales and customers grew […]
CORE rates for solar are fair to all, says CUC
(CNS): Grand Cayman’s power provider has said it will not increase the rates it currently pays for solar energy generated by customers in its CORE programme. Responding to a statement by the Cayman Renewable Energy Association, CUC said it is not against rooftop consumer solar but it “does not support paying inflated prices for energy” […]
CREA blames CUC for stalled adoption of green energy
(CNS): The rapid uptake of the latest release of just 3MWs of renewable energy capacity under CUC’s CORE programme is due to the “scarcity and artificial demand” intentionally created by CUC and allowed by OfReg, according to Cayman Renewable Energy Association Chairman James Whittaker. In a statement posted on social media, he said the latest […]
CUC opens grid for another 3MW of renewables
(CNS): As Cayman continues its painstakingly slow adoption of renewable energy, OfReg has cleared the release of three more megawatts of power for CUC’s CORE and DER Programmes, which allow customers to connect their solar and wind-generated power to CUC’s grid. While it is only a fraction of the power consumed each day, it was […]
CUC profits rack up as usage and customers grow
(CNS): More people burned more power in more places last year, especially during the summer, which turned into a growth in earnings for the Caribbean Utilities Company in 2022. As a growing number of households struggle to find the money to keep their air-conditioners on, Grand Cayman’s power provider made almost $3 million more last […]
CUC rolls out 5.8% delayed base rate hike
(CNS): Residents across Grand Cayman can expect to see a significant increase in their electricity bills next month when CUC’s base rate hike, deferred from the summer, and the fuel increase, which was also delayed, are rolled out and the power provider starts to recoup the missing earnings since the deferrals. The 5.4% increase to […]
OfReg and CUC to define ‘fair price’ on solar
(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 […]
CUC customers cut use but growth fuels profits
(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 […]
