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Mar 9, 2016

Is Your Electricity Bill Going Up?

Is your electricity bill going up again in the months ahead?  This afternoon, the Public Utilities Commission held a press conference to make public its initial decision to increase the mean electricity rate for the Full Tariff Period as of the first of July, 2016.  The increase is part of an application made by Belize Electricity Limited in late January for the determination of regulated values, mean electricity rates, tariffs, fees and charges for the upcoming four-year full tariff review period.  According to PUC Chairman John Avery, the pending adjustments were made as a result of existing rates that were set back in 2012.


John Avery

John Avery, Chairman, Public Utilities Commission

“Based on what happened that year, we were kinda conservative in the estimates for the next couple years, and so what happened is that last year we realized that in the previous two years B.E.L. received a lot more for cost of power that it actually spent.  So last year we had something like twenty-two million dollars that was reduced from the revenue.  Twenty-two million dollars is almost four cents in the mean electricity rate, so that is what really took down the rate to thirty-five cents.  So the thirty-five cents didn’t really reflect the actual cost from last year, it reflected some adjustments that were made based on B.E.L. having banner years the two previous years, you know.  So it is an increase over what you’re paying but in effect, B.E.L.’s actual cost this year we expect to be lower than it was last year, to some extent, you know.  So it is an increase that customers will be paying and I will tell you again, this same thirty-five cents rate that we are charging right now, that B.E.L. is charging, that is being charged up until June thirtieth.  B.E.L. is still paying for power at a slightly lower rate than we had approved.”

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