Tag: power rates
CEO: OfReg blocked additional CUC rate hike request
(CNS): Following backlash about the CUC base rate hike this summer, OfReg CEO Sonji Myles has said the utilities regulator had no choice but to approve the annual rate hike because it complied with the conditions of the licence. However, he said that OfReg had blocked a proposal by the power provider that would have […]
CUC increases base rate on electricity bills by 3.2%
(CNS): The Utility Regulation and Competition Office (OfReg) has approved an annual base rate increase of 3.2% on CUC bills, which will come into effect on power used by customers from 1 June. The hike comes as Cayman Islands residents are struggling with the rising cost of living and after CUC saw its earnings increase […]
OfReg ordered to release CUC fuel and solar reports
(CNS): The Office of the Ombudsman (OMB) has ordered OfReg to release two reports, in full, that were created by CUC and given to the utility regulator. A freedom of information request in April last year had encompassed the 2014 CUC Cost of Service Study and the Incremental Distributed Solar Study (2023), but both had […]
Fuel cost comes down as base rate goes up
(CNS): Customers can expect to see a decline in fuel cost charges when they get their bills for June and July, CUC has said. But that could be countered by another increase in the base rate, which CUC said was verified and accepted by OfReg to roll out in June’s bills. As bills appear to […]
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 […]
Public ‘freaks’ over CUC bills
(CNS): Grand Cayman’s power provider, Caribbean Utilities Company, was at the centre of a social media storm this week as power bills began arriving in people’s inboxes. The public freaked out over higher than expected charges, accusing the power providers of gouging. CUC has not answered direct inquiries on this yet but it appears there […]
CUC profits fuelled by hotter weather
(CNS): Sales and profits were up for Grand Cayman’s monopoly power provider at the end of June compared to the same time last year, as a result of an increase in air-conditioning use, the company said. The second quarter of this year had an average temperature a full degree higher than in 2018, boosting CUC’s […]
Regulator approves CUC hike
(CNS): The Utility Regulation and Competition Office (OfReg) has approved CUC’s application for a base rate increase, beginning with power used last month, in accordance with the monopoly power provider’s licence. CUC said its customers would “see a marginal increase in the energy charge component of their bills” for the electricity they had already used […]
CUC cleared to hike rates by 1.6%
(CNS): Both business and residential customers on Grand Cayman will see a hike in their electricity bills from this month after the regulator, OfReg, cleared CUC, Grand Cayman’s monopoly power provider, to increase rates by 1.6%. Officials at the power company said the increase in the base rate is in line with the Rate Cap […]
