BEL Seeks Price Adjustment After Years of Stability

After years of keeping electricity rates steady, Belize Electricity Limited says it may soon have to raise prices. BEL has asked for an increase of just over five cents per kilowatt hour, but the Public Utilities Commission is proposing a smaller adjustment, about three cents. The PUC says this is necessary to help BEL recover costs and stay afloat. Prime Minister John Briceño adds that the company has been selling power for less than what it pays to buy it, all while global prices and supply challenges continue to rise.

 

Prime Minister John Briceño

“I have said over and over with BEL, from 2030 when we got into government, BEL has not asked for a raise in rates. COVID, inflation, the heat waves that hit us in 20204. One time Mexico was selling us a kilowatt of electrify at one dollar a U.S. and when they were cutting off the service to us, BEL had to talk to the big consumers, especially in San Pedro where the tourists area, who had their own generators, BEL asked them don’t cut off from the grid and you put on your generator and we pay you the difference because the cost it way much higher than what BEL sells. Now nobody wants to talk about the price going, but when you look around, especially in the Caribbean we are way cheaper than them when it comes to electricity. But BEL has been selling tis electricity cheaper than what it cost to buy. I know member from Mesopotamia who are the only businessman over there. You will not sell your fry chicken for less than what you are paying for the chicken.”