The solicitation had sought 16MW of additional capacity in 2012 and a further 16MW in 2013 based on a Certificate of Need submitted by CUC in March of 2009.
While the current economic uncertainty makes precise forecasting difficult, CUC believes that, based on Grand Cayman large project starts and the general state of the Cayman Islands economy, growth during the period will not meet thresholds necessary to warrant capacity expansion in the near term.
CUC and the ERA will continue to monitor growth indicators and revise forecasts as necessary and the ERA has indicated it will commence a new solicitation at such time as large project starts and general economic recovery indicates a future need for additional capacity.
Richard Hew, president and CEO of CUC, said: “CUC remains committed to providing a reliable electricity service to Grand Cayman and will continue to monitor key growth indicators and endeavor to secure additional capacity in a timely manner to meet customer demand.”
CUC provides electricity to Grand Cayman, Cayman Islands, under an Electricity Generation Licence expiring in 2029 and an exclusive Electricity Transmission and Distribution Licence expiring in 2028.
