Tag: Utility Regulation and Competition Office
OfReg rewrites rules to satisfy stakeholders
(CNS): The body established to regulate Cayman’s utilities sector and ensure fair competitive practices has redrafted rules on the penalties for any breaches of anti-competitive practices law. OfReg said this was in response to concerns by stakeholders, as the regulator released the new draft rules for final consultation this month. A release stated that when […]
OfReg making ‘truth’ rules for utilities
(CNS): OfReg, the regulatory body which now has oversight of all utilities in the Cayman Islands, has opened a public consultation on proposed new rules to ensure that these providers tell the truth in their advertisements and promotions. Officials said the aim is to create a set of rules that will allow the Utility Regulation […]
Regulator greenlights more green energy
(CNS): The Utility Regulation and Competition Office (OfReg) has signed off on CUC opening the final 1 megawatt of capacity allocated to the power provider’s Consumer Owned Renewable Energy (CORE) programme. After the initial limit of 6MW was reached in March 2017, OfReg approved another 2MW to be released in two tranches. With the first already generated, […]
OfReg and CIMA directors top pay of SAGCs
(CNS): A new report from the Office of the Auditor General has revealed significant disparities in how much staff, bosses and board directors are paid across statutory authorities and government companies (SAGCs). The report shows the board chairs of OfReg and CIMA are making $4,500 and $4,000 per month and their directors are also the highest […]
OfReg gives nod to CUC plan to ease off fossil fuels
(CNS): The utilities regulator, OfReg, has accepted a plan submitted by the Caribbean Utilities Company (CUC) that sets out a road-map for future energy use and a transition from a fossil fuel based portfolio to one dominated by renewable energy, introducing natural gas and increasing the storage and baseload of renewable generation technologies. The plan was prepared by […]
OfReg tries to steer CUC to reward renewables
(CNS): The Utility Regulation and Competition Office (OfReg) has approved changes to Caribbean Utilities Company’s terms of service that create more choices and promote the use of renewable energy. The revisions to Grand Cayman’s monopoly power provider’s service terms impacts how consumers acquire electricity and what they pay for it. Customers can continue to consume as they always have […]
OfReg presses fuel suppliers on price
(CNS): Duke Munroe, who is responsible for the regulation of the local fuel sector within the Utility Regulation and Competition Office (OfReg), has told CNS that the regulator has intervened to persuade the local fuel suppliers to drop the price of fuel by more than they had intended and much sooner. While OfReg continues to conduct […]
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 […]
Solar farm cuts emissions but investors lost cash
(CNS): The solar array in Bodden Town, which began generating electricity from solar panels last summer, is functioning as expected and fit for purpose, with the necessary controls and systems in place, but the investors failed to make a profit on building the plant. Some 800 homes have been fuelled by the solar energy from the […]
Sol fined $200k over fuel tank blaze
(CNS): Sol Petroleum Limited has been fined just CI$200,000 plus costs of CI$86,700 by the utilities regulator in connection with the dangerous fuel tank blaze at the Jackson Point Terminal last summer. Sol has accepted responsibility and paid the administrative fine, which the Utility Regulation and Competition Office (OfReg) said reflected the potentially serious nature of the blaze and […]
Miller calls for OfReg chair’s removal
(CNS) UPDATED: Opposition Leader Ezzard Miller joined other public calls on Tuesday for the removal of the Linford Pierson as chairman of the OfReg board following revelations that he had threatened to punch the deputy chair during a recent special board meeting. Miller said that if the details revealed in the leaked minutes are an […]
