BEL to Seek Mid-Period Rate Adjustment and Introduce Dynamic Pricing

Belize Electricity Limited (BEL) has welcomed the Public Utilities Commission’s (PUC) Final Decision on its Annual Tariff Period (ATP) 2025–2026 application, submitted on April 4, 2025. BEL says the decision opens the door for future tariff changes aimed at securing revenue for continued investments and improving customer service.

BEL’s application outlined three main goals: ensuring sufficient revenues for infrastructure upgrades, recovering extraordinary energy costs from 2024–2025, and introducing a new, cost-reflective dynamic pricing system.

While the PUC did not approve the proposed increase in average electricity rates from 40 to 43 cents per kilowatt-hour effective January 2026 under the current annual review process, it advised BEL to file a mid-period application. BEL plans to do so in December 2025 to realign rates and recover cost variances by January 2026.

The PUC also supported BEL’s proposal to introduce a Time-of-Use (TOU) pricing model, requesting a separate application by July 31, 2025. The model will allow customers to manage electricity use and costs based on varying rates throughout the day.

BEL has already begun market research to inform the dynamic pricing model and says it looks forward to collaborating with the PUC, the Government of Belize, and stakeholders to ensure sustainable and reliable energy service.