Caribbean Utilities

From Wikipedia, the free encyclopedia

Caribbean Utilities Company, Ltd. (TSX: CUP.U), known locally as "CUC", commenced operations as the only public electric utility in Grand Cayman, the largest of the three Cayman Islands, in May 1966. The Company currently has an installed capacity of 114.63 megawatts (MW), and a new record peak load of 85.03 MW was experienced in September 2004.

The company has more than 200 employees, most of whom are Caymanian, producing electricity from diesel fueled generators. In the past, the company has recorded substantial damage to its assets from hurricanes.

CUC is partly owned by Fortis Inc., a holding company based in St. John's, Newfoundland and Labrador, Canada. CUC's shares are traded on the Toronto Stock Exchange.