And in utility news, last week, we told you about the disagreement between the Public Utilities Commission and Belize Electricity Limited.
A few weeks ago, BEL applied to the utility regulator and formally requested that it amend their final decision on the 2022 Annual Review Proceeding on electricity rates. As reported, the electricity company wasn't asking that your light bill go up, but they were seeking a future correction in the rates to account for some 43 million dollars in the cost of power that they will have to absorb to provide electricity at the current rates to customers up until June 2023.
Well, the PUC strongly disagreed that consumers owe BEL that much money. In their initial decision, they did agree that customers would owe BEL, but they have reduced that amount by 22 million dollars. BEL then wrote back to the PUC a response to strongly disagree with the regulator's assessment, and they doubled down on their insistence that their calculations were correct.
Well, according to the PUC's response, they don't agree with the utility.
We note that the PUC communique says, quote, "BEL is asking for the claimed 28.5 million to be deferred in a manner the company believes is best, which... would mean that consumers will have to bear all excess Cost of Power in or around 2024. The Commission is concerned for the rate hike that may result." End quote.
For these and other reasons, PUC Chairman Dean Molina writes, "The Commission approves no adjustments... and hereby ORDERS BEL to continue to levy the said approved Tariffs, Charges, and Fees in respect of the relevant electricity services..."
As we told you, this is the final decision for this Annual Review Proceeding.
