CUC to cut January bills 2% from insurance payment

| 18/12/2013

(CNS Business): Grand Cayman’s power company is reducing the fuel cost rate on its customers' January bills by less than 1 cent as a result of an extra pay-out from its insurers of just under US$1 million in relation to its generator failures in 2011. CUC said the money would be refunded to consumers via the fuel charge next month reducing bills by just 2%, with the cut in the fuel cost charge from CI$0.2202 per kilowatt hour (kWh) to CI$0.2142. The Electricity Regulatory Authority (ERA) said that even though it was only a small amount and would not have a significant impact on reducing bills, the recovery of the money demonstrated how the electricity regulatory framework was able to provide benefits to customers. Read more on CNS Business

Go to full article

Category: Business

Comments are closed.