Caribbean Utilities Company Ltd. (CUC) is steadfastly continuing on its journey to the future of energy on Grand Cayman. With monumental strides in fortifying readiness for the transition towards clean, sustainable and renewable energy sources, CUC knows there will be diverse needs of a growing populace. Despite this, we remain resolute in our commitment to provide reliable, safe and cost-efficient services to our customers.
How can we reduce emissions?
The investment of solar, efficient battery storage and the transition from diesel to natural gas constitute pivotal elements in CUC’s overarching goal to curtail CO2 emissions by 60% by 2030. Grand Cayman will require new, greener energy generation to be able to tie all of these efforts together.
What needs to be done?
As per CUC’s licence for transmission and distribution, the Company is required to prepare and submit a certificate to OfReg outlining the size and timing of future generation needs for reliable energy supply – the ‘firm capacity’. Firm capacity ensures a consistent availability of energy for production or distribution when needed. However, due to the intermittent nature of solar energy, it cannot always be counted on for this type of constant supply and for this reason, in the energy world, solar is not considered firm capacity. Moreover, the process of implementing new generation involves a competitive bidding procedure for the Company’s certificate submission.
What is being done?
As a regulated Company, CUC operates within the framework set forth by the Utility and Regulation Office of the Cayman Islands (OfReg). OfReg plays a crucial role in ensuring that capacity expansions, renewable energy endeavours and future plans are executed in accordance with regulatory guidelines. CUC is therefore poised to present a pioneering blueprint for Grand Cayman’s energy future, encompassing solar energy, battery storage and natural gas, symbolising our shift away from traditional diesel reliance.
This transformative step underscores our dedication to advancing cleaner and economically stable renewable energy solutions.
In 2019, The Utility Regulation and Competition Office announced that for large scale solar to be offered on Grand Cayman,there would be a competitive bid process for utility scale solar. CUC anxiously awaits the bid process with OfReg. This bid process will allow CUC toopenly provide details on the plans that the Company has for renewable energy and demonstrate to the public its commitment to finding affordable, reliable and environmentally friendly energy for the people of Grand Cayman.
To learn more, click on the “Integrated Resource Plan (IRP)” page under the “Renewables” tab on our website at www.cuc-cayman.com.