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Issue 119 iLocal Explosion at West Bay house Page 9
iWorld Digicel’s unique 4G pre-launch Page 12
CAYMAN
TO ADVERTISE YOUR CLASSIFIEDS CONTACT TRICIA ON (345) 326 2028
iClassifieds Page 23 Cayman Wildlife Reserve to close
OUR EYE, YOUR NEWS
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www.ieyenews.com
TUESDAY | 18 OCTOBER 2011
Ramoons help afterschool programme
Full story on page 3
Page 6
Jamaica celebrates its national heroes Page 7 Four-car smash on Linford Pearson Page 9
Indy 500 winner dies in wreck Page 18
Lee Ramoon (left) and Anthony Ramoon (centre)
POWER COST HIKE? Tad Stoner tad.stoner@ieyenews.com
The Caribbean Utilities Company (CUC), while moving to clear confusion about electricity costs, has indicated that prices could rise again in March 2012. A price cap, which currently limits the cost of fuel, will expire in March next year, exposing Cayman consumers to the vagaries of
international oil markets. CUC watchdog the Electricity Regulatory Authority (ERA) could order that a new capping agreement be put in place, but at a potential cost of $1.7 million. The utility provider completed the one-year agreement to preserve the price of diesel at $3.55 per gallon in early April this year, after gaining late-March approval from
the ERA. “There were ongoing discussions on hedging for several months while the relevant documentation was developed and agreed by the ERA, CUC and the hedging counterparties,” the statement said. “The final approvals and instructions to proceed with the specific hedges were received from the ERA in late March. Continued on page 5
Check in store for new arrivals on Laptops & Kindle Readers
Glory for CI U-20 Women’s football Page 20
TODAY’S WEATHER T/STORMS & SHOWERS HIGH LOW 92ºF | 81ºF