Electricity producer Caribbean Utilities Company says that average household bills for January should be less than at the start of 2024 as lower rates kick in.
In a press release issued on Friday, the company said that residential customers with an average household consumption of 1,162 kilowatt hours per month will see a reduction of 16%, equivalent to $63.57, in their bills this January compared to January last year, and a fall of $1.51 when compared to December 2024.
The company said that the decrease was due to a combination of reduced fuel prices and upgrades to generating units which have improved fuel efficiency.
CUC also said in the release it was continuing to move to a more “renewable, resilient and affordable energy system” and was boosting network resilience through installing underground transmission and distribution lines in the Linford Pierson Highway, which will maintain electricity supply to local hospitals and police stations during extreme weather. It has also taken delivery of two 10-megawatt battery energy storage systems which will reduce the company’s reliance on diesel.
Continuous investment
“As a capital-intensive industry, the utility sector requires continuous investment in innovative projects,” CUC president and CEO Richard Hew said in the press release. “CUC remains committed to delivering the least cost, highly reliable, and cleaner energy service to the people of Grand Cayman.”
Last October, Hew said that homes and businesses could expect up to $40 million in cost savings annually as the Cayman Islands moves over to renewable energy over the next few years.
Related Videos
