Senators Debate Government’s $256 Million Fortis Buyout

A special sitting of the Senate today saw passionate debate over the government’s proposed $256 million acquisition of Fortis’s operations in Belize, including its 33 per cent stake in Belize Electricity Limited. Senators from across the political and civic spectrum weighed in, voicing both support and concern over the landmark energy deal.

Senator for the Churches, Louis Wade, expressed environmental reservations about the dams, calling them costly and not clean. Still, he encouraged Belizeans to invest when the opportunity arises, saying ownership of national assets should be shared by the people. “There are two ways that we as Belizeans can own this asset. One is if the government buy it, but number two is if we as Belizeans invest in this asset of Fortis. That’s one way you can get cheaper energy for yourself..I personally believe that government shouldn’t own everything.”   

UDP Senator Sheena Pitts raised questions about accessibility, asking whether the average Belizean would truly be able to purchase shares once the government divests them to the public. “Which Belizean has disposable income, at a time of inflation and high cost of living…and buy in back to BEL?” she asked.  Her remarks point to deeper anxieties about whether national investments are truly within reach for everyday citizens.

From the governing party, Senator Eamon Courtenay defended the structural integrity of the dams, stating for the record that they are in good condition and only require minor repairs. “All three facilities are in good operational condition, with no immediate structural concerns,” he said. His comments aimed to reassure the public about the viability of the assets being acquired.

Senator Janelle Chanona, representing non-governmental organisations and a board member of Belize Electricity Limited, addressed concerns about energy costs. She clarified that while some have sounded alarms, Belize’s electricity rates are not as bad as they are made out to be. “While I think there is this relative perception that electricity rates are high, I think once you get into the numbers, you will see it could look a lot worse,” she said.

Opposition Senator Patrick Faber criticised the process, arguing that the bill was rushed and lacked proper consultation with key stakeholders. Faber said that there was no consideration of feedback from the consulting partners, “The people who you consulted do not feel the same way about your understanding of what consultation is….it seems that when you say you consult, you call them together, you give them information, you ask them for feedback. But you take none of what they say into consideration.”