Tag: CUC
CUC opens new control centre
(CNS): CUC has opened a new control centre to supervise the generation, transmission and distribution systems, which will improve customer service and reliability, officials said. The centre opened this month and includes an improved working environment for operators, better situational awareness of the power system, communication with field crews, storm and outage management facilities, efficiency […]
CUC aims to raise US$48M in share sell-off
(CNS): Caribbean Utilities Company is giving its shareholders a chance to buy more shares in the power company to raise US$47.8 million to refinance existing debt and for general corporate purposes, a release from CUC said. Existing shareholders can subscribe on 1 September and if the full rights offering is not taken up, CUC has […]
Fuel suppliers dominate consultation
(CNS): Only two private individuals contributed to OfReg’s consultation exercise on consumer protection rules for the fuel sector, according to details released by the regulators. Despite broad concern about fuel prices and standards here, the public discussion was dominated by the suppliers, SOL and Rubis, both of which suggested that new regulations would push up […]
Power outage affects 16,054 customers
(CNS): More than 16,000, around half of CUC’s customers across Grand Cayman, were without electricity during the middle of the day Wednesday for a brief period. The power outage began at 1:37pm but was restored to customers by 2:15pm, the company said in a release. The outage was caused when when one of the company’s […]
CUC’s summer price hike postponed
(CNS): Grand Cayman’s monopoly power provider will not be raising the price of electricity as usual this summer, as OfReg has deferred the annual price hike until January. As part of its licence, CUC is allowed to apply for an annual base-rate increase in line with costs and inflation, but given the COVID-19 pandemic and […]
CUC earnings take $4M hit from COVID-19
(CNS): Caribbean Utility Company’s earnings fell by $4.2 million during the first six months of this year when compared to 2019, as a result of the COVID-19 pandemic. Although there was significant increase in power consumed by residential customers, the closure of large commercial customers led to a major fall in sales.
CUC boss says future of power is solar
(CNS): Whether solar panels in the Cayman Islands should be mainly located on rooftops or on land farms to meet the proposed energy goals may be up for debate, but Richard Hew, the CEO of Caribbean Utilities Company (CUC), is certain that the sun will provide the country’s future power needs. Appearing before the Public […]
Homeowners snap up green energy option
(CNS): The Ministry of Commerce, Planning and Infrastructure (CPI) has re-allocated 700 kilowatts from the government’s Consumer Owned Renewable Energy (CORE) power capacity, paving the way for affordable and smaller homes to include solar panels and allowing more people in the community to use renewable energy while remaining on the CUC grid. The policy change […]
CUC won’t cut power in April
(CNS): Caribbean Utilities Company (CUC) has said that it will not cut power to any customer who is be having difficulty paying their bills throughout the month of April. Previously the power company that supplies electricity across Grand Cayman had only suspended disconnections until the end of March, while offering credit facilities on a case […]
CUC may still cut power despite pandemic
(CNS): Government has claimed to have secured commitments from utility providers in Cayman not to deprive people of these essential service as the country faces the COVID-19 pandemic. But CUC has only made a very limited to commitment to keeping people’s power on. In a statement Wednesday it said that it would not cut electricity […]
Profits roll in for CUC as sales and customers grow
(CNS): Grand Cayman’s monopoly power provider, Caribbean Utilities Company (CUC), enjoyed another profitable year in 2019, driven by a surge in the number of customers and rising temperatures causing increasing use of air-conditioning. CUC sales increased by 6% to over 30,500 customer, and it now supplies the largest number in its history. Shareholders enjoyed a […]
