Belize Electricity Limited has spent much of this year operating at a steep loss, frequently selling power for less than the cost of purchasing it. It's led to a massive and accruing debt and now the company is trying to stop the hemorrhaging by asking for an increase in electricity rates.
The company has submitted a rate case application to the Public Utilities Commission for an increase of 5.55 cents in the average price of electricity, to take effect from January 1, 2026. That is more than a 10% increase.
The company hopes to recoup over 100 million dollars in energy supply costs incurred by the Company to meet electricity demand between July 2023 and October 2025 - and continuing up to June of 2026.
The company says it needs the increase in time for the warmer months of next year when there's more demand for power. That is also when the cost of purchasing power for Mexico soars.
The PUC will now review BEL's application and no timeline has been given for its final decision.
