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Caribbean Utilities Company, Ltd Announces Unaudited First Quarter Results ended March 31st 2022
Caribbean Utilities Company, Ltd Announces Unaudited First Quarter Results ended March 31...
About this update from Caribbean Utilities Co. Ltd. Class A
[{"type":"text","content":"\n \n \n \n Caribbean Utilities Company, Ltd Announces Unaudited First Quarter Results ended March 31st 2022\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n Caribbean Utilities Company, Ltd. is listed for trading in\n \n United States\n \n dollars on the Toronto Stock Exchange under the trading symbol \"CUP.U\".\n \n \n \n \n GRAND CAYMAN\n \n ,\n \n Cayman Islands\n \n \n ,\n \n \n May 4, 2022\n \n \n /CNW/ - Caribbean Utilities Company, Ltd. (\"CUC\" or \"the Company\") announced today its unaudited results for the three months ended\n \n March 31, 2022\n \n (\"First Quarter 2022\" or \"Q1 2022\") (all figures in\n \n United States\n \n dollars).\n \n \n \n \n \n \n \n \n \n Customers in\n \n Grand Cayman\n \n stand to benefit from major investments which the Company will make over the next five years. That's because the Utility Regulation and Competition Office (\"OfReg \") has approved the proposed 2022-2026 Capital Investment Plan which the Company submitted last October.\n \n \n The 2022-2026 Capital Investment Plan is in the amount of\n \n $373.2 million\n \n and includes\n \n $22.0 million\n \n for two grid resiliency projects which will involve the undergrounding of the Company's Transmission & Distribution infrastructure from the North Sound Plant to the Seven Mile Beach and South Sound substations. Undergrounding of these lines will provide resilience and improve power restoration times after a tropical storm or a hurricane.\n \n \n The plan will also include the roll out of public electric vehicle charging locations which will be available in key locations around\n \n Grand Cayman\n \n . A 20 megawatt Battery Energy Storage Project which will allow the Company to improve the fuel efficiency of its diesel generating plant while also supporting further adoption of distributed renewable energy projects is also included in the plan among several other projects designed to improve service reliability, efficiency and environmental performance.\n \n \n During First Quarter 2022, the Compa...