Posted: Thursday, January 30, 2020. 10:29 am CST.
By BBN Staff: Belize Electricity Limited (BEL), in its recent projections submitted to the Public Utilities Commission (PUC), said that the cost of power is projected to go up but not this year
The company’s Full Tariff Review Proceeding Application to the PUC for 2020 to 2024, projects an increase in the Mean Electricity Rate (MER) of $0.4533 on average over the period 2020/2024.
“…the Company’s intention is to maintain the current rates to customers up to December 31, 2020. Thereafter, any favorable variances will be passed through to customers and any unfavorable variances will be mitigated to have minimal impacts on rates going forward,” BEL said.
BEL added that, over the next five years, the company plans to invest over $280 million in the national electricity grid. Those investments are geared towards connecting to new in-country renewable sources of energy, introduce smart grid technologies to improve the reliability, quality, and efficiency of service to customers, and lay the foundation for distributed generation connection and electric vehicles.
The investments include $47 million to interconnect 70 new indigenous generation sources to the national grid to reduce reliance on CFE and help support the country’s sustainability goals; $54 million to connect Caye Caulker to the national grid and to add a second submarine cable to San Pedro, which will bolster reliability and capacity; $32 million in smart meter and grid technologies that will improve system reliability improve response to customers and allow for distributed generation integration into the national grid; and $20 million to install a second transmission line between Dangriga and La Democracia to upgrade the transfer capacity to southern Belize.
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