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CARIBBEAN UTILITIES COMPANY, LTD. (CUC) ANNOUNCES 2024 YEAR-END RESULTS AND STRATEGIC MILESTONES
CARIBBEAN UTILITIES COMPANY, LTD. (CUC) ANNOUNCES 2024 YEAR-END RESULTS AND STRATEGIC MILESTONES ...
About this update from Caribbean Utilities Co. Ltd. Class A
[{"type":"text","content":"\n\n\n\n CARIBBEAN UTILITIES COMPANY, LTD. (CUC) ANNOUNCES 2024 YEAR-END RESULTS AND STRATEGIC MILESTONES\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 \n\n\n\n\n\n Canada NewsWire\n \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\n GRAND CAYMAN\n \n ,\n \n Cayman Islands\n \n\n ,\n \n February 14, 2025\n \n /CNW/ - Caribbean Utilities Company, Ltd. (\"CUC\" or the \"Company\") announced its audited results for the twelve months ended December\n \n\n 31, 2024 (\"Fiscal 2024\") (all figures are in\n \n United States\n \n Dollars).\n \n\n\n\n\n\n\n\n\n\n Highlights for 202\n \n\n 4\n \n\n were as follows:\n \n\n\n\n Successful commissioning of the 20-megawatt (\"MW\") battery energy storage system (\"BESS\"). This system is anticipated to save customers 5-6% in fuel costs.\n \n\n Successful completion of lifecycle upgrades (\"LCU\") to three of the five generating units that will be upgraded. These upgrades will not only prolong the life of the engines but will improve fuel efficiency, reduce emissions and improve environmental impacts, and significantly prepare the engines for dual fuel operation.\n \n\n Achieved a reliability performance of 1.8 outage hours per average customer in 2024. This is consistent with North American reliability standards.\n \n\n Completion of the Company's Health and Safety Plan which included several focus areas such as training, mental health management initiatives, an internal health and safety audit, and a contractor workshop.\n \n\n Recertification of ISO 45001:2018, the international standard for Occupational Health & Safety management systems. with no major non-conformances.\n \n\n Development of a wildfire mitigation plan and internal procedures. This plan supports the focus on improving the Company's resilience in the event of a wildfire emergency.\n \n\n Nomination for the Investors in People (\"IIP\") prestigious Overseas Employee of the Year Gold Award. This nomination is a testament to CUC's commitme...