BEL Applies to Increase Rates to Cover Estimated $108M in Energy Costs

Belize Electricity Limited (BEL) has asked the Public Utilities Commission (PUC) to approve an “increase of 5.55 cents in the average price of electricity” starting January 1, 2026.

The company says the adjustment is needed to recover BZ$87.5 million in energy costs already spent between July 2023 and October 2025, plus another BZ$20.9 million expected between November 2025 and June 2026.

BEL explains that higher demand during the dry season, reliance on costlier gas turbines, temporary generation, and more expensive electricity imports from Mexico are driving up expenses.

The company states that even with the adjustment, Belize will still have some of the lowest electricity rates in the Caribbean and Central America.

The PUC will now review the application before making a final decision.