New Generation

In 1990, a new generating and transmission system was commissioned which redefined the standards the company had previously applied to all its operations. Cul de Sac power station inaugurated an era of highly professional and efficient operations leading to the development of new standards through the company. A 66 kV transmission system was introduced allowing the efficient flow of power around the island.

Private to Public

Lucelec went public in 1994. Profitability and shareholder value became new words in the vocabulary of operations. The new motto was excellence and profitability in operations.

Customer, Customer, Customer

By the late 1990s, driven by the demands of customer service, the business had changed again. The main focus was no longer just to produce a reliable and efficient supply, but to service customers in a cost-effective manner. The company also began to look externally to assure its future. The worldwide trend to deregulation and the possibility of distributed production created new challenges for the power industry.

The company initiated studies to determine the most appropriate way to address these new challenges.

Tomorrow

The new millennium brings great challenges and opportunities for Lucelec. The worldwide trend to deregulation, new approaches to business, and technological change may all impact us.

Deregulation

With the trend to deregulation, the dedicated electricity generator and supplier may become something of an anachronism. More and more the business is seen as an opportunity for entrepreneurs to challenge the established way of doing things. The driving element in all of this is who can provide the service better and cheaper. The customer will make the ultimate choice.

New Approaches to Business

Increasingly, power providers are moving out of their traditional home grounds to create new business opportunities that will increase the revenue base and create added value for shareholders. The fact that power companies worldwide already have access to millions of homes has not been lost on managers in the industry. Services to customers will be a keenly contested area, be it for power or communications in a world where information and access will be critical.

Technological Change

Technological advance is also creating change. The imminent impact of fuel cells will create a completely non-polluting, environment-friendly, and compact source of power that could threaten the very survival of traditional power companies. The opportunity to go to the nearest supermarket and buy a power source is an appealing and entirely possible alternative in the not distant future. There is also the challenge of power generation from micro-turbines supplied from a gas source, allowing a distributed resource without the need for huge central generating stations and costly transmission facilities.

The inexorable rise in the price of fuel, driven by reducing resources of oil and increasingly stringent environmental regulations, will also drive the development of alternatives. Increasingly, wind and solar power will become more and more attractive, in spite of difficulties with inconsistent wind regimes and the great difficulty with energy storage devices.

Lucelec exists to deliver a reliable, safe, cost-efficient power supply service to our customers. In all of this uncertainty, we will continue to plan and manage well, to respond to all challenges, and to consistently deliver on our customer service promises.