Higher Power Bills, But Where Did BEL’s Profits Go?

Before Belizeans are asked to pay more for electricity, Opposition Leader Tracy Panton wants BEL to account for its money. Panton says the company must undergo an audit before the Opposition supports any increase under the Cost of Power Adjustment. She also wants BEL to explain how it used the net profits earned during the COVID-19 pandemic.

 

Tracy Panton, Leader of the Opposition

“Absolutely not.”

 

Paul Lopez

“Tell us why.”

 

Tracy Panton

“Because, we simply cannot afford it. How much more money are we going to invest, are we going to not invest, use to bail out BEL without understanding the last three years BEL had record returns on investment. In Covid was when BEL recorded its highest net profits forty-six point six million. 2021 was thirty-four, almost thirty-five million. 2022, almost twenty million. Where are those resources. What have we done with them. And we have to have an honest and open conversation. There must be an audit before we can increase, before we can agree to any increase in the COPA.”

 

The Senate is expected to debate a private motion on Wednesday calling for an inquiry into the affairs of BEL.

 

Attention readers: This online newscast is a direct transcript of our evening television broadcast. When speakers use Kriol, we have carefully rendered their words using a standard spelling system.

 

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