Tag: CUC

CUC engineer spending year at US power company

CUC engineer spending year at US power company

| 03/03/2017 | 0 Comments

(CNS Business): A Caribbean Utilities Company (CUC) employee has been sent to Tucson Electric Power (TEP) in Arizona, marking the first time that the company has participated in a secondment. Corey Miller is spending a year at the Tucson facility, enabling him to train and gain experience within [...]

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Fuel costs fall as earnings rise for CUC

Fuel costs fall as earnings rise for CUC

| 21/02/2017 | 8 Comments

(CNS Business): Grand Cayman’s monopoly power provider enjoyed an increase in net earnings of some $2.4 million last year but CUC said the average cost of bills still fell by almost 32% by the year-end compared to consumer bills at the end of 2014. The power provider said that the combination o [...]

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CUC to close George Town HQ payment centre

CUC to close George Town HQ payment centre

| 19/01/2017 | 0 Comments

(CNS Business): Customers of CUC will no longer be able to pay their bills at the CUC head office in North Sound Road or its office at the Caribbean Plaza. In a circular sent out this week, the firm said it was changing the way it does business to focus on “delivering enhanced services in the a [...]

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Power consumption and development fuels CUC

Power consumption and development fuels CUC

| 14/11/2016 | 2 Comments

(CNS Business): CUC’s profits fell in the third quarter of this year by half a million dollars compared to last year due to higher depreciation and finance charges the company expected to sustain after completing its new generator project in June. The loses were partially offset by higher elect [...]

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CUC begins to shape future energy plan

CUC begins to shape future energy plan

| 01/09/2016 | 3 Comments

(CNS Business): The monopoly power provider on Grand Cayman has brought in consultants to begin drawing up potential future plans for CUC to consider to maintain a safe, reliable and viable electricity supply for the next three decades. Integrated Resource Plan (IRP) will set out a proposal for [...]

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CUC earnings boosted by hot weather

CUC earnings boosted by hot weather

| 02/08/2016 | 3 Comments

(CNS Business): Sales were up by 7% for CUC during the second quarter of 2016, the firm has reported. While this was partly due to a slight increase in customer numbers, the main factor was the warmer weather, as the average temperature for the period was up by almost a full degree and people tu [...]

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Warm weather and new customers boost CUC profit

Warm weather and new customers boost CUC profit

| 04/05/2016 | 7 Comments

(CNS Business): Both the weather and an increase in customers helped to drive profits up for Caribbean Utilities Company (CUC) in the first quarter of this year, despite increased depreciation, maintenance and amortization costs, according to results released by the power provider on Grand Cayma [...]

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CORE programme grows another 2MW

CORE programme grows another 2MW

| 02/05/2016 | 12 Comments

(CNS Business): The Electricity Regulatory Authority (ERA) has sanction an expansion of Caribbean Utilities Company’s Consumer-Owned Renewable Energy (CORE) Generation Programme, which will see more residential and commercial customers who are using alternative power, such as solar and wind, t [...]

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CUC boss rings trading bell at Toronto exchange

CUC boss rings trading bell at Toronto exchange

| 20/04/2016 | 2 Comments

(CNS Business): Richard Hew, the President and CEO of Caribbean Utilities Company, Grand Cayman’s private sector power provider, rang the bell to open the day’s trading on the Toronto Stock Exchange on Friday to [...]

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Price hike fuels CUC profits in 2015

Price hike fuels CUC profits in 2015

| 19/02/2016 | 4 Comments

(CNS Business): Grand Cayman’s power provider, CUC, cleared a $2 million profit last year as a result of a 3% growth in sales and a hike in the base rate last June, according to its latest financial report. In the last quarter of the year the electricity company saw a an 8% growth in sales, le [...]

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CUC’s profits heating up with increased sales

CUC’s profits heating up with increased sales

| 10/11/2015 | 0 Comments

(CNS Business): Large commercial sales, warm weather and a growth in customers have accounted for increased sales and profits for Grand Cayman’s power provider. Earnings for CUC for the nine months ended 30 September increased by more than $1.3 million compared to last year, the company said i [...]

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CUC and OTEC still hopeful about ocean energy

CUC and OTEC still hopeful about ocean energy

| 24/09/2015 | 8 Comments

(CNS): The development of a commercial ocean thermal energy conversion system in the Cayman Islands remains a real possibility, according to both CUC and industry experts, Cayman OTEC. It is almost four years since CUC signed a non-binding ‘term sheet’ with the firm to begin a feasibility st [...]

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CUC claims 99.95% reliability in latest results

CUC claims 99.95% reliability in latest results

| 03/08/2015 | 9 Comments

(CNS Business): Grand Cayman’s monopoly provider claimed that it had a near perfect rate of keeping the island connected in the second quarter of this year. Despite a blackout across George Town in April that lasted more than four hours, Caribbean Utilities Company (CUC) said that customers [...]

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Power outage costly for small businesses

Power outage costly for small businesses

| 27/07/2015 | 0 Comments

(CNS Business): The island-wide power outage that left customers all over Grand Cayman without power on Friday proved costly for some small business owners, some of whom are now considering purchasing a back-up generator after losing a day’s worth of business. Carey Burns, owner of Karma [...]

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CUC in legal wrangle with telecom firms

CUC in legal wrangle with telecom firms

| 16/07/2015 | 1 Comment

(CNS Business): A legal battle has begun as Caribbean Utilities Company Ltd (CUC) seeks a restraining order against two local cable providers in the Cayman Islands. According to papers filed with the Grand Court, CUC officials claim both Logic and C3 used CUC’s utility poles to hang cable line [...]

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