I am appalled at the rocketing prices charged by CUC. In the last two months, my bill has increased over CI$100, even though I am only using my air conditioner four hours per day! How is that possible?
I know I am not alone in wondering how on earth will I continue to pay for this ever rising cost.
Why is there no competition to the only supplier of electricity on the Island? Perhaps if there were, CUC might feel more pressure to make their service much more competitive.
When everyone is having to tighten their belts because of the rising cost of goods and the ever decreasing level of disposable income, it is incomprehensible that CUC continue to have carte blanche on what they can charge their customers.
It is important that everyone makes their voices heard if they too feel that the exorbitant cost of electricity is unsustainable for their families, some of whom have to choose between feeding their family or paying the ludicrous prices charged by CUC. Others are seeking take out loans to pay their bill. That’s just not right or fair.
The cost of this service should not be anywhere near the cost of one’s mortgage or even 50 per cent of it as it does in some cases.
Come on Cayman Islands, put some pressure on CUC to lower their prices and Government could lead the way by introducing some competition so they are forced to offer their customers a good service at a reasonable price.
Lorraine Lord
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I agree.
Maybe someone can actually explain to me how the charges are determined as well, I’d like to understand that – wouldn’t you?
I wish to offer some clarity, knowledge and insight to the letter written by Lorraine Lord on June 24, 2011 titled Shocked at electricity charges.
Firstly, CUC’s rate hasn’t changed since June 2009 -it is CI0.1039 per kWh (the base rate). The only charge on your CUC bill that fluctuates is the fuel cost.
If you recall, it was only several months ago that consumers were paying around CI4.50 per gallon at the pump. What are we paying at the pump today? At the cheapest gas station on island we’re paying CI5.93 per gallon. What’s more appalling is that gas prices in Cayman have remained at CI5.93 for approximately 8 weeks when gas prices in the US have been dropping for WEEKS on average US0.17 per gallon! Additionally, the cost per barrel of oil has dropped significantly in the past few weeks and yet no change has been reflected in Cayman! None.
It always amazes me how quickly gas prices rise in Cayman. Gas station employees are out front changing the prices to reflect the increase pretty much within minutes of an announcement by OPEC that oil is increasing from 98 to 120 per barrel. Of course, none of the more expensive product has even been shipped yet and probably won’t ship for another week or so. On the flipside, prices in the US and the price per barrel of oil have been dropping for weeks now and no gas stations have responded to the decreases. Their excuse: We still have the more expensive product in stock. For 8 weeks? Really? And isn’t it suspiciously convenient that their tanks are always dry when prices go up? That they have to replenish stock the minute fuel prices soar?
It is my opinion that exorbitant fuel prices are partly to blame for the high cost of living in Cayman. Think about it fuel prices drive all other prices. If fuel is high, the fuel factor on CUC bills increase. If CUC bills are higher, the cost of everything else goes up (because CUC bills are overheads for businesses and businesses pass those increased costs on to their customers).
So Ms. Lord, I am asking you to reconsider who it really is that you should be protesting against. CUC buys diesel from the same companies that stock our local gas stations so they are forced to pay the exorbitant prices as well.
Further, your letter indicates that you want government to introduce competition. Is that the same government that increased the duty on fuel in July 2010? From 50 cents per gallon to 75 cents per gallon? I think it is the same government. The government that you are now calling on to fix the problem is actually responsible for compounding the problem. However, they seem to realize that now and the Premier is working to reverse the duty increase which should bring some relief.
I can understand your frustrations as I too am feeling the economic pinch. But all I ask is that you get your facts straight before reaching out to the public for help in petitioning against CUC. You should always try to identify the root cause of a problem instead of attacking the symptoms/outcome. If we don’t address and regulate gas prices in Cayman this problem will keep occurring.
In these times when gas prices in Cayman are unregulated and gasoline providers are charging mind-blowing prices, all we as consumers can do is try to conserve and cut back on our energy usage. When gas prices go down in Cayman (if they ever do) your CUC bill will go down as well.
In closing, I feel that we the people and the government need to focus our rallying efforts on getting regulation put in place for the gasoline and oil providers in Cayman. As the price per barrel of oil drops, so too should the prices at the pump.