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May 3, 2019

Additional Relief in the Pipeline for B.E.L. Customers

According to P.U.C. Chairman, John Avery, the projection is that B.E.L. may require two hundred and sixty-five million dollars to cover all its expenses for this tariff period, ending June 2019. The current rates are expected to yield about two hundred and twenty plus million dollars. Avery believes that when the next rate review is completed and annual corrections are done, there will be a significant sum recoverable from customers in favour of B.E.L.  But the utility company is saying that it doesn’t want to make the corrections during this period, but until June 2020. But it is all dependent on the source of electricity for the national grid and Avery says that G.O.B. has embarked on a project that should provide relief to consumers.

 

John Avery, Chairman, Public Utilities Commission

“Even if the situation with CFE isn’t improved, the government is confident that a project they are embarking on can in fact result in some local generation to compete with costs from Mexico and from the local fossil fuel generation, which regardless of what happens with Mexico should provide some relief in the near future. We cannot say anything more about the project that the government is undertaking. We are not aware of all the details of it; just that there may be a portion with relation to electricity and that if that works out, then it could bring lower prices and more stable prices. However, until the government makes a formal announcement of that, there is not much more we can say.”


Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

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