10/18/11

Page 1

Issue 118 iLocal Catboat club meeting Page 3

iLocal Robbery at Funky Tangs Page 7

iWorld Drugs caused Jacko’s death Page 9

CAYMAN

TO ADVERTISE YOUR CLASSIFIEDS CONTACT TRICIA ON (345) 326 2028

iClassifieds Page 23 Comprehensive guide to community events Page 8

OUR EYE, YOUR NEWS

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www.ieyenews.com

SAT-MON | 15-17 OCTOBER 2011

Girls set off for World Cup adventure Full story on page 24

Photo by Ivy Lichtenstein

Severe threat to Jamaican police Page 11 Empowered woman Cathy Page 16

Cayman join in with Men’s’ Day Page 14

MORE FUEL SHOCKS Tad Stoner

tad.stoner@ieyenews.com

Confusion reigned yesterday as Caribbean Utilities Company (CUC) on Friday morning released a statement suggesting government was far more to blame for the cost of electricity than the Sparky’s Drive supplier. In response to Premier McKeeva Bush’s Tuesday-night call for an

audit on the utility, seeking the reasons for electricity costs, CUC on Friday released a two-page description of its efforts to hedge the price of diesel fuel on world markets, accompanied by a sevenpage study of electricity rates. The documents, however, left analysts scratching their heads about what the company asked consumers to pay. CUC watchdog, the Electricity

Regulatory Authority (ERA), “requested CUC to hedge its fuel prices,” the document said, sparking an agreement by CUC to pay its Esso and Texaco suppliers a total of $1.7 million per year to cap diesel costs at $3.55 per gallon. The statement did not say when the ERA made its request, but cited March 2011 authority approval for a one-year “hedge” agreement, expiring in March 2012.

Full Premier League preview Page 21

Continued on page 5

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TODAY’S WEATHER T/STORMS & SHOWERS HIGH LOW 88ºF | 77ºF


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