Mr. Hammon, you hit the nail on the head in your letter ‘Competition welcome’.
However, I don’t believe this island can sustain two conventional power companies, the market just isn’t here.
But there is hope. If the government would allow Cayman residents to grid tie (make their own electricity and give the excess to CUC) renewable energy sources such as solar and wind, then CUC would have direct competition.
Yes solar and wind power does carry an initial investment cost, but once you purchase the equipment there are no more expenses. It is just like buying a brand new car and getting a lifetime supply of free gas.
Who would you choose? CUC or the sun?
Our answer to high utility cost is that great yellow ball in the sky. Cayman, you don’t have to burn diesel fuel to make electricity, unless you just want to.
But remember, one day there will be no more fuel to burn, hence no competition for the sun and wind.
It’s a good thing no one owns the sun.