But, while the company will not resist the PUC's decision for this annual review period, the Chairman pointed out that this cannot last for an extended time.
Here's how he made the point that the country needs better planning for the provision of the country's growing energy needs:
E. Andrew Marshalleck, SC - Chairman, BEL
"I'm confident that BEL will be able to provide as much power as Belizeans require in a reliable way, at those prices, for that period. But going forward, you have to recognize the inflationary pressure isn't going away. They're still there, and if we hope to maintain these prices going into the future -into the medium term and the long term - then it's critical that we start making the right investments, and getting additional generating capacity in-country. We have a preliminary plan that's been prepared, and the first 2 steps to doing so are 1, introducing utility-scale batteries into our transmission system, strategically, and 2, starting to aggressively pursue and put on the ground, an operation - not just ideas because the idea has been around for years, and all of us know we have to do it - solar farms. We need to start investing in and generating power through solar technology. The batteries allow us, 1, to absorb the power from solar during the day, and distribute it at night. But, it also allows us to buy from CFE in Mexico, during the off-peak hours, when energy is cheap, and deploy it here during the peak hours, when energy [demand] is high. So, it makes sense all around. Everybody agrees that it makes a lot of sense, and even in the final decision, we see that the PUC agrees. So, we're happy that everybody is on board with that. And what we want to do is move toward execution, as quickly as possible. I've grown old enough to know that July next year isn't that far away. You might think so, but it really isn't. And if we don't start doing things, then you're going to start losing the benefit of even these prices that we're talking about today."
Marshalleck also told us that the country must stop failing to properly implement the 10-year energy plans crafted for better stabilization of electricity rates. He told us that, from his research on the topic, all of the stakeholders agree on the necessary remedial steps for the country's energy sector. Yet, for decades, those well-crafted, 10-year plans simply get ignored. Here's how he made that point:
E. Andrew Marshalleck, SC - Chairman, BEL
"The law requires that a plan be done every 10 years to strategies and determine how it is that Belize, as a country, is going to meet anticipated energy needs in the upcoming 10-year period. We have them repeatedly, but we don't seem to be able to - for decades - and when I say we, I mean the Belizean people - have seemed to be able, for decades, to achieve anything in those plans. And that needs to change. Our savior and backstop for that failure have been our ability to source power from Mexico. But, we need to do better than that, and we need to start doing better than that very quickly, otherwise, we will start paying the price for that. To date, apart from being able to access power from Mexico, what has anchored us, and allowed us to maintain even the prices we've suggested for the upcoming year is the investments we already made in the hydroelectric facilities. Belizeans are enjoying the benefits of those investments now. Had they not been taken, there wouldn't have even been a suggestion that these price levels could be offered to the public. What we're saying is that you expect that to continue, we need to change our attitude and approach to certain investments in energy. And we need to treat those investments as urgent because they're becoming increasingly more urgent in today's world."
Daniel Ortiz
"Some would say that we're far behind. Would you agree?"
E. Andrew Marshalleck, SC
"Yeah, but there is only acknowledging where you are, deciding where you want to be, and deciding how best to get there as quickly as you can. And we already have the first 2 steps. We need significant investments in utility-scale batteries, and in solar generation."
In an evening press release, BEL says, quote, "BEL is currently reviewing the PUC's Initial Decision and will respond by the deadline of May 9, 2022." End quote.
