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BEL requests price increase after 5 years Print E-mail
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Written by Administrator   
Thursday, 05 April 2018 00:00

Belize Electricity Limited announced on Wednesday April 4 that they have submitted to the Public Utilities Commission (PUC) for a rate increase. The submission is being made under the Annual tariff Period July 1, 2018 to June 30, 2019. The request is being made as a result of increases in the cost of power purchased from power producers.

BEL, in a press release stated that, “During the 2016 – 2017 rate review period, actual cost of power was $3.8 million higher than the Reference Cost of Power approved by the PUC.” The company says it financed this last year but notes that this year the cost will go up to $4.8 million higher than what was approved by the PUC for 2017-2018. With that the company is asking for a 7.1% increase in the Mean Electricity Rate to $0.3954 per kilowatt hour from $0.3692 per kilowatt hour.

It is noteworthy that there has not been an increase in electricity rates since the company was nationalized in 2011.