Company Overview

Caribbean Utilities Company, Ltd. is a regulated electric utility that generates, transmits, and distributes electricity exclusively to the Grand Cayman island in the Cayman Islands. The company operates within the electric power generation and distribution industry and functions as a monopoly utility under a long-term license granted by the Cayman Islands government. Its revenues are primarily derived from electricity sales to residential, commercial, and industrial customers under regulated tariffs.

The company’s core business is the ownership and operation of power generation facilities and an integrated transmission and distribution network. Caribbean Utilities Company is uniquely positioned as the sole provider of public electricity on Grand Cayman, benefiting from a stable regulatory framework that allows cost recovery and a defined return on invested capital. Founded in 1966, the company has evolved from a small local utility into a modern power provider supporting one of the Caribbean’s leading financial and tourism centers.

Business Operations

Caribbean Utilities Company operates as a single-segment regulated electric utility, with activities encompassing power generation, transmission, and distribution. The company owns and operates multiple diesel-fired generation plants, substations, and an island-wide distribution network. Revenue is generated through regulated electricity tariffs approved by the utility regulator, incorporating fuel costs, operating expenses, and capital investment recovery.

Operations are entirely domestic to the Cayman Islands, with no material international subsidiaries or joint ventures. The company maintains a long-term operating agreement and regulatory oversight relationship with the Cayman Islands government. Its assets include generation units, fuel storage facilities, transmission lines, and distribution infrastructure, all dedicated to serving Grand Cayman’s electricity demand.

Strategic Position & Investments

The company’s strategic focus centers on maintaining grid reliability, expanding capacity to meet population and economic growth, and improving operational efficiency. Capital investments are primarily directed toward generation upgrades, grid modernization, and environmental performance improvements. Caribbean Utilities Company has also invested in renewable and alternative energy initiatives, including solar generation and battery energy storage systems, as part of its long-term energy diversification strategy.

Caribbean Utilities Company is a majority-owned subsidiary of Fortis Inc., a North American regulated utility holding company. This ownership provides financial strength, operational expertise, and access to capital for long-term infrastructure investments. No material acquisitions or divestitures outside normal capital programs have been publicly disclosed in recent filings.

Geographic Footprint

The company’s operations are concentrated exclusively in Grand Cayman, within the Cayman Islands, where it serves the island’s full customer base. Its headquarters and all operating assets are located on Grand Cayman, and it has no direct operational presence outside the territory.

Despite its limited geographic scope, the company’s economic influence is significant within the Cayman Islands, supporting critical infrastructure for the financial services, tourism, and residential sectors. Through its parent company Fortis Inc., Caribbean Utilities Company is indirectly connected to a broader network of regulated utilities across North America and the Caribbean.

Leadership & Governance

Caribbean Utilities Company operates under a board and executive management team responsible for regulatory compliance, operational performance, and long-term capital planning. Governance practices align with public company standards applicable to issuers listed on the Toronto Stock Exchange and regulatory requirements in the Cayman Islands. Strategic direction emphasizes system reliability, prudent capital investment, and constructive regulatory engagement.

Key executives include:

• Randal A. Jerrard – President and Chief Executive Officer
• Karen E. Hatchett – Vice President, Finance and Chief Financial Officer
• John A. Bodden – Vice President, Operations
• Michael J. Ryan – Vice President, Engineering and Asset Management