Posted: Wednesday, December 12, 2018. 5:16 pm CST.
By BBN Staff: Earlier this week, Belize Electricity Limited (BEL) dropped a bombshell by signaling an increase in rates.
In a statement, BEL said that it informed the Public Utilities Commission (PUC) that due to the significant cost of power from Mexico it hoped to increase rates.
This increase is projected at $0.4150 per kWh.
This adjustment would take effect January 1 to June 30, 2019.
BEL blamed Mexico for this proposed increased citing that it paid Mexico $18.9 million in increases since May.
In light of the high costs, BEL suggested to the PUC that it was in negotiations with Mexico to get lowered prices for power.
According to BEL, it is confident that it will be able to lower rates by the end of 2019.
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