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Jul 8, 2011

Government and B.E.L. delegation returns from CFE negotiation

manuel esquivel

Former Prime Minister and government advisor Manuel Esquivel and a delegation from Belize Electricity Limited have returned from Mexico after concluding a first round of discussions with the Comision Federal de Electricidad.  Esquivel was accompanied by C.E.O. Jeffery Locke and board members. Having nationalized B.E.L., the government is hoping that CFE, which supplies up to seventy percent of electricity to B.E.L., will agree to double its credit line to twenty million dollars, and well as reduce electricity rates to Belize. The request was first raised by Prime Minister Dean Barrow with Mexican President Felipe Calderon in Guatemala after the government took over the company on June twentieth.    The Mexican president was reportedly receptive to the request but the specific details of the follow-up meeting have not been confirmed. B.E.L.’s debt stands at twenty-seven million dollars, eight million of which is owed to CFE.   The government said it was necessary to acquire the company to avoid rolling blackouts, which could have occurred if B.E.L. was unable to pay its debts while privately owned. B.E.L. is also indebted to BECOL and BELCOGEN as well as consumers, according to the Public Utilities Commission.

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6 Responses for “Government and B.E.L. delegation returns from CFE negotiation”

  1. bert says:

    Great MOve Gov.

  2. Roy Yates says:

    I wonder what e is advising the government about? When he was Priminister he was scared of Borrow like a rat and a cat; Barrow been cat. They have no constructive vision for the country, only for themselves. I can fix Belize’s economy laying in my bed, If they doubt me take me up on it.

  3. BDF soldier says:

    How sweet it is that after a career in politics politicians can still collect millions of $$$$.

  4. Belize says:

    Spending in meeting should be reduced… what is the purpose of all board members going… why not only the technical staff went… you wasting our money man.. betta behave.

  5. Belizean says:

    Hmm, so he is the advisor. Wonder if he is advising dean on pay now benefit later..hmm wasn’t that his slogan on the infamous 15% VAT..so the man who engineered the VAT is a killa disaster actually advising Dean…hmm, well lets see how long they can contain this circus till elections. Too bad the cost of oil is going up, we’re suseptible to storms and emergency power may not be in our best interest, if a storm hits. If barrow and Esquivel had any real sense they would be out hunting for investors for alternative energy rather than taking away what investors did for us then kicking them in the @$$, as a thank you..who els is gonna invest in alternative energy, the only means to truly stabilize our energy industry..obviously the contracts at BNE is so good that they cant break it like they did at BEL BTL and PUC..now they got this ole man kissing @$$ to the mexicans to bring down the cost of power so they can look good…pray there’s no storm bzns, this could mean emergency power from CFE, a higher cost of energy if oil continues to sky rocket, then barrow will be forced to use our oil money, which should be going to education, infrastrucutre and economic stimulation, to save his face from the biggest embarrassment of his carreer..a costly utility..

  6. Liberty and Freedom says:

    Sounds just like America – raise the debt ceiling. Does anyone know the terms of the agreement with CFE? Are Belizeans selling their souls to the devil like the Fortis agreement? The scare tactic is “rolling blackouts”. So Belizeans have to do this. Same games as played by America. Raise the debt ceiling or it will have catastrophic effect on the global economy. Nationalize BEL, like America did with General Motors – same garbage vehicles now manufactured by the government. What BEL needed was competition. Just like what SMART did with BTL.

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