More on the lowering of electricity rates
Turning to other news, on Tuesday the Public Utilities Commission said it had not received any objections to the proposed six point one-four percent reduction in electricity rates that it announced earlier in the month. Well today, B.E.L. stepped in line and announced that the P.U.C. is not to expect any objections, but it wants a cut in business tax. With that out of the way, consumers should be seeing a decrease in light bills beginning in February. While B.E.L. is not standing in the way of the decrease which both the P.U.C. and the Prime Minister pre-empted, the utility company says it will be taking measures to offset the drop in revenue occasioned by the reduction. According to the statement, “B.E.L. will be targeting cost savings in materials purchased and contracted services, as well as applying to the Government of Belize to reduce the business tax.” The company also warns that the reductions will be sustainable if the actual cost of power remains at the projected level or lower. B.E.L. buys most of the power from Commission Federal de Mexico, BECOL, and BELCOGEN. One more issue; B.E.L. says it will be further reviewing its initial proposal for an increase in fees to discourage meter tampering and sub-standard wiring since the Company is of the view that honest paying customers should not in any way subsidize those who refuse to comply with the law.