CUC to cut January bills 2% from insurance payment
(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
Category: Business