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ERA press statement Joey Ebank

His Excellency the Governor in Cabinet has suspended the Managing Director of the Electricity Regulatory Authority, Mr. Joseph Ebanks and relieved him of all duties related to his position in the organisation. The decision was based on the preliminary findings by the Auditor General from his investigation into some inappropriate financial transactions which was reported to the Board of Directors of the ERA on Thursday February 28th 2013. The Board unanimously supported the recommendations of the Auditor General following his preliminary report. The Auditor Generalís findings are being provided to the Financial Crimes Unit of the Royal Cayman Islands Police Service to investigate further.

Mr. Louis Boucher has been appointed as the acting Managing Director of the ERA. Having worked as the Deputy Managing Director since 2009, Mr. Boucher has experience in project and operations management as well as the evaluation of capital investment decisions in the utilities and power generation sectors, including the analysis of renewable energy projects from a technological, environmental and financial viability standpoint. As Deputy Managing Director, Mr. Boucher was responsible for reviewing and analysing licensee submissions and regulating licensees in accordance with the Licenses and ERA Law.

The Board of Directors will provide updates on this matter as necessary.