Caribbean Utilities Company, Ltd. is listed for trading in United States dollars on the Toronto Stock Exchange under the trading symbol “CUP.U”.
GRAND CAYMAN, Cayman Islands, Aug. 5, 2025 /CNW/ – Caribbean Utilities Company, Ltd. (“CUC” or the “Company”) announced its consolidated unaudited results for the three and six months ended June 30, 2025 (all figures stated in United States Dollars).
Highlights & Strategic Milestones were as follows:
Customer Commitment
- Lower Bills, Smarter Energy: So far this year, customers are paying less—thanks to efficiency upgrades from CUC’s lifecycle upgrade project, falling fuel prices, and a reduced Licence & Regulatory Rate. While a 4% base rate adjustment took effect on June 1, 2025, overall costs are still down.
- Q2 Wins: Efficiency = Savings: In the second quarter of 2025, strategic system upgrades cut thermal spinning reserve needs and boosted fuel efficiency by 7%. That means less fuel burned—and an estimated $2 million savings in fuel cost passed on to customers.
Shareholder Returns
- Approved 3% increase in the quarterly dividend from $0.185 to $0.190 per Class A ordinary share in May 2025.
Financial Growth
- Net earnings for Q2 2025 were $11.5 million or $0.27 per Class A ordinary share, a $1.4 million increase from net earnings of $10.1 million for the three months ending June 30, 2024 (“Q2 2024”).
- 1% or 2.5 million kilowatt-hours (“kWh”) increase in sales compared to Q2 2024.
- 2% increase in customers in Q2 2025 compared to Q2 2024.
- Capital expenditures totalled $24.6 million during the quarter, comparable to Q2 2024.
“CUC continues to deliver investments that are making a significant impact for our customers. The realized overall annual cost savings for our customers through fuel cost savings via efficiency measures and price reductions demonstrate our commitment to investing in projects that are driving affordability for our customers,” said President and CEO, Mr. Richard Hew.
Net Earnings and Sales Revenues
Electricity sales revenues increased by $1.3 million for Q2 2025 to $32.6 million when compared to electricity sales revenues of $31.3 million for Q2 2024. Net earnings for Q2 2025 were $11.5 million, a $1.4 …