I shall attempt to unpack the Caribbean Utilities Companies situation here in the Cayman Islands, as well that of its majority shareholder Fortis Inc of Canada. https://www.fortisinc.com which owns at least 60% of Caribbean Utilities Company Ltd.

“Realise therefore, that over half of every dollar of Caymanians hard earned money ends up in the pockets of Fortis Inc. Shareholders.”

In fact, the total foreign ownership of Caribbean Utilities Company is in the vicinity of 81%.

FortisBC will Invest Close to $700 Million to Reduce GHG Emissions and Lower Energy Costs for Customers

Reducing energy use is a key pillar in the company’s goal to lead the clean energy transformation in BC Canada.

FortisBC will invest a record CA$694.8 million to help customers reduce their energy use over the next four years, a key pillar in the company’s goal to lead the clean energy transformation in B.C. The investment will allow FortisBC to shift its efforts to more advanced energy-efficiency initiatives, build new energy-saving programs and work with Indigenous communities to develop targeted programs for their unique needs.

It is indeed interesting to note the difference between Fortis Inc’s policies in Canada and their regional policies in The Cayman Islands, The Turks & Caicos Islands and Belize.

In British Columbia (BC) Canada FortisBC will invest CA$694.8 million to help customers reduce their energy use over the next four years, a key pillar in the company’s goal to lead the clean energy transformation in B.C.

In the Cayman Islands however Caribbean Utilities Company is seeking court action to block the public release of a pair of reports containing details of its costs and the capacity of the Cayman Islands power grid to add new renewable energy.

Public sector transparency watchdog, the Ombudsman, had ordered the release of the reports following a protracted Freedom of Information dispute.

In a ruling which also highlighted concerns over apparent conflicts of interest involving Grand Cayman’s monopoly utility company, the Ombudsman decided in February that the two documents should be released.

The differences in policy between the way customers are treated by Fortis Inc in BC Canada, and how they are treated in the Caribbean by their subsidiary Caribbean Utilities Company Ltd (as well as Fortis Inc’s Belize and Turks & Caicos operations) leads to only one possible conclusion which is that their Cayman Islands operation is exceedingly profitable, and that they will do everything possible to maintain their monoply. The fact that the cost of living in the Cayman Islands is the highest in the world is obviously meaningless to the management of Caribbean Utilities Company as they are at heart Capitalists whose only care is Fortis Inc shareholder profits.