Caribbean Utilities (CUPUF)

Description:

Caribbean Utilities Co Ltd was founded in 1966 and is headquartered in Grand Cayman, the Cayman Islands. The Company is 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 has been through many challenging and exciting periods but has kept pace with Grand Cayman's rapid development for over 40 years. The Company engages in the generation, transmission, and distribution of electricity in the Cayman Islands. It generates electricity through diesel and gas turbines. The company also has 8 transformer substations with approximately 355 miles of land-based high-voltage transmission and distribution lines and 15 miles of high-voltage submarine cable. The Company uses diesel generation to produce electricity for Grand Cayman. The Company was first registered to the ISO 14001 environmental standard in 2004, the first and only organization in the Cayman Islands to achieve this third-party registration. In May 2007, the Company achieved re-registration to the ISO 14001:2004 standard by demonstrating its commitment to the standard's requirements and its Environmental Policy. On April 3, 2008, the Company entered into new Generation and Transmission & Distribution Licenses with the Government of the Cayman Islands. Prior to April 3, 2008, the Company operated pursuant to a 25-year exclusive License with the Government of the Cayman Islands under the provisions of Section 6 of The Cayman Islands Electricity Law 1974, originally dated May 10, 1966, amended November 1, 1979 and renewed for a further 25 years on January 17, 1986.