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National Gas Company begins operations; gas prices hopefully not too steep

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Posted: Thursday, May 14, 2020. 1:20 pm CST.

By Aaron Humes: The National Gas Company Limited (NGCL), created by statute last year, has officially begun operations with the approval of Government, according to Prime Minister Dean Barrow.

“As far as I know, the green-light has been given to the National Gas Company and so they are just starting, but of course will expand their distribution network as quickly as possible,” he told us during today’s press briefing.

In theory, this means NGC can sell to former importers Zeta Gas/Southern Choice Butane, Belize Western Energy Limited and Gas Tomza, the first of whom is out of liquefied petroleum gas (LPG) stock as of Monday.

The “small increase” in wholesale prices, now $2.26 per gallon, may translate to higher prices in retail (88 and 90 cents per gallon in municipalities and rural areas respectively) depending on additional markup but the P.M. said he was not yet clear as to how it would shake out.

The former importers are suing, claiming their Constitutional rights have been violated, and that the Government has perpetuated a monopoly in the industry.

 

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