BEL Proposes Electricity Price Increase in 2026

Belize Electricity Limited (BEL) has submitted a formal request to the Public Utilities Commission (PUC) to raise electricity rates beginning 1 January 2026. If approved, the average cost of electricity would increase from $0.40 to a minimum of $0.43 per kilowatt-hour, lasting through to the end of the current Full Tariff Period on 30 June 2028.

BEL is now awaiting the regulator’s review and response.

The company’s proposal also includes the full implementation of a previously approved Demand Charge Rate system, which combines time-of-use pricing with demand-based charges. This would apply to both traditional customers and those participating in distributed generation (DG) systems.

BEL cites several reasons for the proposed increase, including growing electricity demand met by increasingly expensive power sources, rising operational and maintenance costs due to inflation, and the need for substantial investment in grid modernisation.

Planned improvements include connecting new utility-scale renewable energy projects and battery storage systems.

BEL stated in a statement, “The proposed adjustment seeks to recover past energy supply costs borne by the Company to meet the demand for electricity, which were in excess of revenues collected from Customers.”