CUC has been a great benefit to Cayman over the years, yet the people who live here are constantly complaining about high electrical rates.
Most people feel they are being ripped off. Why don’t these people take a look at CUC’s books? After all, CUC is a public company and anyone can access their quarterly and annual reports.
All one has to do is type in Caribbean Utilities in Google and read the annual reports over the years. They are all available on line.
I am not an investor in CUC, but I do look at their reports from time to time. What I see is a steady, but small, ROI (return on investment) over the years.
There are many, many companies who’s investors have done far, far better over the years than investors in CUC.
Does this mean that CUC has been inefficient?
No, not at all. It merely shows how well a good management team can do in its job of providing reliable, high quality electrical service to Cayman. If anyone wants to make a comparison, they can look at the cost of power on the Sister Islands and who is providing that power.
It seems that most people do not value the service they get until it is cut off.
Do the people really like it when their power fails? No, they certainly do not. So why would anyone want to legislate a reduction in CUC rates?
I have written before that there is no such thing as a free lunch, and there isn’t.
I don’t like the CUC rates anymore than anyone else. But I certainly value reliable service. For me, that is my top priority.