39 Caribbean Utilities Company, Ltd.  2011  Annual Report Notes to Financial Statements (Expressed in thousands of United States dollars) 4.  Accounts Receivable Unbilled Revenues Other Receivables Employee Share Purchase Plan 5.  Other Receivable - Insurance Revenue derived from the sale of electricity is taken to income on a bills-rendered basis, adjusted for unbilled revenues. Customer bills are issued throughout the month based on meter readings that establish electricity consumption since the last meter reading. The unbilled revenue accrual for the period is based on estimated electricity sales to customers since the last meter reading. The estimation process for accrued unbilled electricity consumption will result in adjustments of electricity revenue in the periods they become known when actual results differ from the estimates. Consumers are billed at the beginning of each month leading to the accrual of approximately three weeks of unbilled revenue. Other receivables relate to amounts due outside of the normal course of operations. Items in other accounts receivable include pole rental fees, sale of meter sockets, sale of recyclable materials and amounts due from related parties (see Note 22). Other receivables at December 31, 2011 also include billing adjustments for commercial customers. The Company provides interest-free advances to employees to purchase Class A Ordinary Shares, with such advances recovered through payroll deductions over the next twelve months. The maximum semi-annual participation is 1,000 Class A Ordinary Shares per employee. The plan is non-compensatory as shares purchased by the employee are obtained at the prevailing market value at the time of purchase. On September 23, 2010 there was an over speed failure damaging Unit 33, a MAN Diesel SE 16 megawatt (“MW”) diesel generating unit. The unit was placed into service in July 2011. On January 28, 2011, equipment associated with a MaK 9 MW diesel generating unit (Unit 1) was damaged due to an explosion during a start process. The costs of the repairs are covered by the Company’s insurance policy subject to a deductible of $0.5 million. Other Receivable - Insurance ($ thousands) As at As at December 31, 2011 December 31, 2010 Unit 33 claim  - 2,119 Unit 1 claim  250  - Other insurance claims  188 69 Total  438 2,188 Accounts Receivable ($ thousands) As at As at December 31, 2011 December 31, 2010 Billings to consumers  9,119 6,521 Unbilled revenue  4,602 4,400 Other receivables  2,189 922 Employee Share Purchase Plan  33 74 Total accounts receivable  15,943 11,917 