Tag: Duke Munroe
OfReg opens inquiry after vehicle explosion
(CNS): The Utility Regulation and Competition Office (OfReg) has opened an investigation into the suspected illegal storage of fuel at a private residence on Mangrove Avenue in Prospect after a minivan exploded last Wednesday, 7 September. OfReg said the blaze appeared to erupt while a vehicle was being filled with gas outside a residential apartment […]
OfReg still working on fuel price transparency
(CNS): More than five years after it was created, the Utility Regulation and Competition Office (OfReg) is still working on some of the key aims and objectives that it was supposed to address. One of the main goals was to determine how the pump price for gas is calculated and whether it is fair, an […]
OfReg says local pump prices ‘average’ for region
(CNS): As gas prices hit record highs at local fuel pumps, the utilities regulator has released a recent price comparison survey carried out across the Caribbean and the UK. “This shows that fuel prices in the Cayman Islands are in the median average range within the countries of similar size compared and much lower in […]
OfReg still has no policy to address gas prices
(CNS): More than five years after the Utility Regulation and Competition Office (OfReg) was established, it is still determining the best approach to regulate the price of fuel at the pump in Cayman, as this issue is one of its primary goals. Duke Munroe, OfReg’s executive director of fuels, has said that the regulator continues […]
Fuel suppliers can’t hike prices on speculation
(CNS): The Utility Regulation and Competition Office (OfReg) has said that local operators are not allowed to increase the price of fuel based on speculation about the current oil market resulting from the sanctions against Russia.
Consultants say ‘no’ to gas pump price controls
(CNS): The public is being encouraged to submit comments on a report by consultants contracted by the Utility Regulation and Competition Office (OfReg) on the Cayman Islands’ fuel market and how to make it more competitive and fair, given the serious challenges presented by its size. Identifying a significant lack of competition in a highly […]
OfReg dodges funding bullet from MLAs
(CNS): The utilities regulator, OfReg, came close to missing out on an additional $1.3 million in funding during the recent Finance Committee hearings after MLAs were tied on a vote for the money. Opposition members raised concerns over the regulator’s failings to address fuel pump prices and the wholesalers’ acquisition of gas stations. Several members […]
OfReg under fire after $2M cash injection
(CNS): The premier has admitted that the office created to regulate utilities has encountered a number of teething problems and has needed much more money than anticipated since its creation some two years ago. Outlining the need for more than $2 million in additional appropriations for the Utility Regulation and Competition Office (OfReg), the premier […]
Utility regulator appoints more bosses
(CNS): J. Paul Morgan, the first CEO of the Utility Regulation and Competition Office (OfReg), has left office after just over 18 months on the job and the board of directors has now appointed two people to act in the post while a recruitment process to fill the CEO post is undertaken. Officials said that Morgan left […]
‘All clear’ after fuel terminal fire
(CNS): Fire crews worked for more than eight hours through Sunday night to douse a blaze at the Jackson Point Fuel terminal which saw residents in South Sound evacuated until the early hours of Monday. The Cayman Islands Fire Service gave the all clear for residents to return home shortly before 3:00am after what the […]
New rules in effect to govern fuel sector
(CNS): With the publication of the amendments, regulations and official commencement order for the new law dealing with the local fuel sector, the Utility Regulation and Competition Office has said it will soon begin issuing permits. The implementation of the Dangerous Substances Law is intended to not only improve safety and fuel quality but to […]
