BEL Statement on PUC’s Final Decision Regarding Amendments to Electricity Rates

Thursday, January 9th, 2014

BEL-LogoOn December 10, 2013 Belize Electricity Limited (BEL) applied for a reduction in electricity rates as a result of an increase in hydroelectricity production in Belize and Mexico and subsequent reduction in the Cost of Power.
On Thursday January 2, 2014, the Public Utilities Commission (PUC) issued the Amendment to the 2013 Annual Review Proceeding (ARP) Final Decision for BEL which stipulates a decrease of 8.22% to the Mean Electricity Rate and previously approved tariffs to be applied during the period January 1 to June 30, 2014. This figure represents a 4 cents decrease in the MER from 48.65 cents to 44.65 cents.
On Friday January 3, 2014 BEL informed the PUC that the Company has no objection to the PUC’s Final Decision, which is in line with the Company’s Mission “to provide reliable electricity at the lowest sustainable cost, stimulate national development and improve the quality of life in Belize.”
BEL also thanked the PUC for taking all feedback received regarding the Initial Decision into consideration, as the Final Decision reflects an adjustment to the electricity rates applied to the various categories of customers. These revised rates should enable the Company to achieve the new Mean Electricity Rate that was prescribed by the PUC in its Initial Decision.
BEL is pleased to know that the ARP process has been working to the benefit of customers while ensuring that the Company can provide high quality service at sustainable rates.

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