Tag: CUC
Domestic light bill subsidy extends to year-end
(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 […]
CUC cuts deal for long-awaited energy storage
(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 […]
CUC defers proposed base rate hike of 5.4%
(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 […]
More customers and consumption fuel CUC earnings
(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 […]
Residential fuel costs capped at 15 cents per kWh
(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 […]
Ebanks appointed as first woman chair of CUC
(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 […]
OfReg opens bid for 23MW solar plant
(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 […]
Development drove CUC’s 2021 profits
(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 […]
Downtown road paving begins with Cardinall Ave
(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 […]
CUC office closed as staff in COVID isolation
(CNS): The number of staff members isolating as a result of the spread of COVID-19 has forced CUC to temporarily close its customer service office to the public. CUC said Thursday that its North Sound office will remain close until 17 January “due to increase in the number of customer service agents who are currently […]
CUC remains on track for profitable year
(CNS): Caribbean Utilities Company’s net earnings for the third quarter in 2021 dipped slightly when compared to the same period last year, but the US$300,000 drop has done little to dent the revenue so far for the year, which is running at more than US$3.3 million over 2020. While there was a slight fall in […]
