Tag: Utility Regulation and Competition Office
OfReg costs more, fails to protect consumers
(CNS): Three years after the creation of OfReg, auditors have taken a close look at the beleaguered utilities regulator and found that it has cost more than its predecessors but has failed to address its fundamental purpose of consumer protection. Inconsistent leadership, limited governance and oversight, a lack of strategic planning and direction or understanding […]
OfReg offers little hope on gas prices
(CNS): Gas prices finally started to fall in Cayman this week but the utilities regulator, OfReg, which is tasked with tracking fuel costs around the world as well as regulating the sector here, has backed the local fuel suppliers’ claim that the lag in price decline is unavoidable. For years there have been concerns that […]
OfReg reveals fuel tank leak at Rubis
(CNS): The utilities regulator issued a press release Tuesday, in which it revealed for the first time that a fuel spill had occurred in November last year at one of the tanks at the Jackson Point Terminal, which holds fuel for the retailer Rubis. OfReg said that it was investigating this leak at the South […]
OfReg accused of wasting more public cash
(CNS) Updated with correction: The utilities regulator, OfReg, which has already faced criticisms for its lavish spending of public cash while failing to address any of the issues it was created to tackle, wasted well over CI$200,000 in 2018 on renting an office it never used. The regulator also exceeded its travel budget for that […]
OfReg proposes auction to attract green power
(CNS): The Utility Regulation and Competition Office (Ofreg) has published a consultation document on a proposed renewable energy auction scheme to attract providers of renewable energy. The idea is to have procurement auctions that will promote the steady deployment of green energy and keep the market competitive. OfReg said it would issue requests from potential […]
Another new boss appointed at OfReg
(CNS): The Utility Regulation and Competition Office (OfReg) has another new boss. According to the latest government Gazette published on Friday, the Cabinet has appointed Malike Cummings, as the chief executive officer for the beleaguered authority. Cummings, who has come to Cayman from a similar position in Turks and Caicos Islands, appears to have started […]
Cayman 27 not alone in owing OfReg fees
(CNS): The utilities regulator, OfReg, has revealed that while Cayman 27 was forced off air last night over unpaid fees of more than CI$100,000, it is not the only licensed broadcaster that is behind paying fees due to the regulator. Responding to CNS enquiries about the end of the local TV station, Alee Fa’amoe, executive […]
OfReg rejects water company rate hike
(CNS): The utilities regulator has rejected an application by the private sector water company to increase its rates. Cayman Water Company Ltd supplies water to residents in West Bay and Seven Mile Beach and it already charges more than the government-owned Water Authority – Cayman, which supplies the rest of the Cayman Islands. In a […]
Auditor warns gov’t about travel expenses
(CNS): Some government departments are still not justifying their travel expenses and the auditor general is warning public sector accountants that there should be business cases for entertainment, hospitality and travel costs because the area is vulnerable to “abuse and misuse”. In her latest report reviewing the state of government’s financial reporting, Sue Winspear said […]
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 opens discussion on fuel labelling
(CNS): The Utility Regulation and Competition Office (OfReg) is turning its attention to how gas stations are labelling and dispensing fuel and has published a discussion paper on how the companies can prevent customers from pumping the wrong gas. The regulator said the aim is to protect consumers by reducing the likelihood of drivers dispensing […]
