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The Electricity Regulatory Authority of the Cayman Islands approves new Consumer Owned Renewable Energy Tariff
Caribbean Utilities Company, Ltd. is listed for trading in United States dollars on the Toronto S...
About this update from Caribbean Utilities Co. Ltd. Class A
[{"type":"text","content":"\n\n\n\nCaribbean Utilities Company, Ltd. is listed for trading in United States\ndollars on the Toronto Stock Exchange under the trading symbol "CUP.U".\n\n\nGRAND CAYMAN, Cayman Islands, Jan. 14 /CNW/ - Caribbean Utilities\nCompany, Ltd. ("CUC") and the Cayman Islands Electricity Regulatory Authority\n("ERA") announced today that a program has been approved which will allow\ncustomers in Grand Cayman to connect renewable energy systems to CUC's\ndistribution system and to reduce their monthly energy bills by generating\ntheir own power from renewable energy while remaining connected to CUC's grid.\nThe program will also provide for customers to be credited for self generated,\nrenewable energy, whether consumed by the customer or used by CUC for other\ncustomers, through the existing transmission and distribution system. This new\nopportunity comes as the result of approval being given by the ERA to the\nterms and rates associated with this renewable energy option to consumers in\nGrand Cayman.\n\n\nConsumer Owned Renewable Energy ("CORE") is energy generated from a\ntechnology such as small scale solar systems or wind turbines. Such renewable\nenergy options will have a positive impact on the island's environment and\nalso help to reduce its dependence on fuel oil, diversify its power supply,\nlower sensitivity to fuel price fluctuations and to help limit further\nincreases in air pollutants including greenhouse gases. Customers wishing to\nobtain further details or wishing to participate in the program may sign up\nimmediately by contacting CUC's Customer Service Department at 949-4300. CUC\nexpects by mid to late March to be able to connect customers generating power\nfrom renewables, and customers can begin to reduce their monthly bills through\nsales to CUC at that time.\n\n\nChairman of the ERA, Mr. Kendal Ryan noted that, "the ERA is pleased to\napprove the CORE programme, in furtherance of the recently passed ERA Law\n(2008 Revision), and CUC's new licences issued in April 2008, in which there\nis a requirement to encourage clean renewable sources of power. We encourage\nconsumers in a position to install renewables to assess their options for\ndoing so."\n\n\nPresident and Chief Executive Officer of CUC, Mr. Richard Hew, stated\nthat, "We are pleased to facilitate...