On December 10, 201, the 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 the 2nd of this month, 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. In a statement issued by BEL today, it says “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, says BEL, should enable the Company to achieve the new Mean Electricity Rate that was prescribed by the PUC in its Initial Decision.