CARIBBEAN UTILITIES COMPANY, LTD WELCOMES URCO’S APPROVAL OF THE CERTIFICATE OF NEED

Caribbean Utilities Company, Ltd. (“CUC” or the “Company”) welcomes approval of the Certificate of Need (“CON”) by the Utility Regulation and Competition Office (“URCO” or the “Regulator”), paving the way for increased generation capacity to support Grand Cayman’s continued growth.

URCO has approved CUC’s revised CON, submitted on February 10, 2026. The CON identifies Grand Cayman’s future electricity needs, and establishes the requirements for the development of 94 megawatts (“MW”) of additional generation capacity. The required capacity has been structured into three distinct capacity blocks, allowing for the participation of alternate generation technologies and resources in meeting the electricity generation needs.

Under its Transmission and Distribution licence, CUC is required to submit a CON to the Regulator to outline projected electricity demand. Following this submission, the Regulator will launch a competitive procurement process to secure new generation resources needed to meet future demand.

CUC continues to make significant investments in the reliability and resilience of Grand Cayman’s electricity system, investing as much as US$100 million annually to serve the households, businesses, and communities that rely on it. Since 2020, these investments have contributed to a 50% reduction in outage time.

Electricity demand continues to increase on Grand Cayman, with a record peak load of 129.5MW being recorded on July 31, 2025. Meeting future demand will require timely increases in generation capacity to ensure adequate generation reserves, as required under CUC’s licence, and to maintain a secure and reliable supply.

Mr Richard Hew, CUC President and CEO said:

“Energy is an essential service; the approval of the CON is an important step towards meeting Grand Cayman’s growing electricity demand and providing a safe and reliable supply of electricity to the households and businesses we serve in the coming years.”

CUC has published the full CON document on its website, available here.

For further information, please contact:

Jessica Pawlik

1-345-914-1164

jpawlik@cuc.ky