Caribbean Utilities Company, Ltd. · George Town, Grand Cayman Cayman Islands ·(Toronto: CUP)
Company Description
Phone: +1-345-949-5200
Fax: +1-345-949-5203
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This link will open in a new window Caribbean Utilities Company is the sole public electricity generation, transmission, and distribution utility for Grand Cayman in the Cayman Islands. The company's system is made up of 18 generating units and eight major transformer substations. Caribbean Utilities supplies electricity to about 24,850 residential and commercial customers. It relies upon diesel fuel imported from refineries in the Caribbean and the Gulf of Mexico to generate electricity, and has an installed capacity of about 140 MW (after Hurricane Ivan). Founded in 1966, the company now holds a 25-year exclusive operating license (initially obtained in 1986) from the Cayman government. Caribbean Utilities is indirectly 59.5%-owned by Fortis . To read the full description, subscribe now.
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Key Caribbean Utilities Company, Ltd. Financials
| Company Type | Public - Toronto: CUP Single Location |
| Fiscal Year-End | April |
| Annual Sales (mil.) | $44.2 |
| Employees | 198 |
Caribbean Utilities Company, Ltd. Executives
28 executives listed for Caribbean Utilities Company, Ltd.'s George Town, Grand Cayman location.
| Title | Name & Bio | Contact |
| Chairman | David Ritch | Network |
| Vice Chairman | Frank Crothers | Network |
| President, CEO, and Director | J. F. Richard Hew | Network |
Competition
Competitive Landscape for Caribbean Utilities Company, Ltd.
Demand for electricity is driven by industrial and commercial activity and by population growth. The profitability of individual companies depends on the efficiency of their operations. Large companies have economies of scale in purchasing power; small companies can compete effectively by specializing in geographic regions. The industry is capital-intensive: average annual revenue per worker is about $2 million. The traditional electricity industry consisted of investor-owned utilities, municipal utilities, cooperatives, and government entities that owned the generation, transmission, and retail distribution facilities within a limited area and served all customers within that area as tightly regulated "natural monopolies." Though "natural monopolies" still exist, the electric energy industry in the US underwent a restructuring driven by changes in federal and state laws in the 1990s. In restructured, or deregulated, markets, generation, transmission, and distribution operations are carried out by separate companies, and the owners of local distribution lines make their lines available to competitors. The intended purpose of moving toward a less regulated electricity market was to decrease the cost of electricity by fostering competition among producers. One practical effect was the divestment of generation facilities by many investor-owned utilities. Despite the popularity of restructuring activities initially, as of mid-2009 only 14 states had deregulated their electricity industries. Several other states, including California, launched restructuring initiatives before suspending them, in part because of concerns that restructuring caused electricity rates to rise. Many local electricity distributors are still owned by utility holding companies that also own power generation facilities, wholesale transmission lines, and wholesale power trading companies. To read the full description, subscribe now.Top Caribbean Utilities Company, Ltd. Competitors
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