Business

BEL ok’s PUC’s 4cts/kwh rate cut

By William YsaguireStaff Reporter

Belize Electricity Limited has approved the Public Utilities Commission’s decision to cut electricity rates by 4 cents per kilowatt hour, effective January 1.
The company informed the P.U.C. last Friday, January 3, that it had no objections to the final decisions, which was compatible with the company’s mission to provide customers with reliable electricity at the lowest sustainable cost, which at the same time would stimulate national development and improve the quality of life for Belizeans.
Due to reductions in the company’s cost of power resulting from increases in hydro-electricity generation in Belize and Mexico, BEL had suggested to the P.U.C. that it lower its Mean Electricity Rate by three cents, from 48.65 cents/kwh to 45.65 cts/kwh.
But after checking the numbers from the 2013 Annual Review Proceeding, the PUC amended to its Final decision, and announced on Tuesday, December 18, that it was lowering BEL’s Mean Electricity Rate by 8.22 percent or four cents to 44.65 cts/kwh, for the first six months of 2014.
The amended final decision adjusts electricity rates for BEL’s various categories of customers so as to achieve the 4 cents reduction in rates.
The BEL release goes on to say that the company was happy that the annual review process was benefiting consumers, while allowing the company feasible rates, so it can sustain its high quality service.

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