BEL has its annual general meeting every year in June. That's where they report on the company's performance to shareholders. And this year the news is not good. In the last fiscal year ending December 2024, the company recorded a loss of 9.7 million dollars. This from a company that was recording a profit of 34 million as recently as 2021.
And what's the cause of the sharp downturn? The chairmans says it's driven by heat and supply constraints in Mexico - which led to a year of extreme volatility when it comes to the cost of power.
He notes that in the wildly unpredictable 2024 fiscal year, the company earned the most money in any single month and lost the most money in any single month.
In his message to shareholders, Marshalleck says the company must educate customers to make informed energy choices.
But, meanwhile, the volatility continues, and the company is already 16 million dollars in the red this year.
