(CMR) The Caribbean Utilities Company (CUC) has joined the Cayman Islands Government to provide further relief to customers from October to December. Residents and businesses in Grand Cayman will benefit from the Fuel Cost Relief program.
Caribbean Utilities Company said it recognizes that current fuel prices are causing difficulties for its customers. While it hopes the increased fuel prices will be a short-term issue, the Company sought and received approval from the Utility Regulation and Competition Office (“OfReg”) for a CUC Fuel Cost relief program that will include all customers.
CUC said it understands that along with the challenges faced by residential customers, many of its commercial customers are still recovering from the impact of the COVID-19 pandemic. The CUC program offers relief to both commercial and residential customers.
The Government has also extended its electricity assistance program. Both the CIG and CUC programs will be effective for electricity consumption from 1 October 2022, through 31 December 31 2022.
The CUC Fuel Relief program will apply to all customers and will cap the amount of the fuel factor paid by customers to CI$ 0.20 per kiloWatt hour (“kWh”). This $0.20 includes all line items that make up the fuel factor which are: Fuel Cost, Fuel Duty and the Renewable Energy charge.
CUC’s Fuel Relief program is applicable to all levels of consumption for all customers. As before, the CIG Fuel Cost Relief Program will apply to residential customers with consumption between 101 kWh and 2,000 kWh and will cap the amount of the Fuel Cost paid by customers to CI$ 0.15 per kWh by contributing up to CI$0.05 per kWh over and above the CUC Fuel Relief Programme.
The offering of this relief is timely as the fuel cost for electricity consumption in October is the highest so far for the year. However, fuel costs are expected to decrease for November’s consumption.