But BEL is not flush with cash, having sustained losses of up to 23 million in the past year. Young says that was caused by the fluctuating cost of power:
Lynn Young, Executive Chairman - BEL
"The company did its best to try not to have to ask for a rate increase over the last few years. There were things that nobody could have anticipated. Like we said, the war with Ukraine, the war in Iran, the problems with shipping, tariffs-you know, a lot of things kept piling on that you reach the point where now we have to address it, right? But the lights are on. The company is delivering power. And even though people complain about blackouts here and there, right,"
"You've got to give somebody some credit for keeping the rates at 44 cents for over 40 years and for increasing the reliability of the system to where it is today. And in all of that year, there were some missteps, I agree, but there were some good steps too. Had to have happened, otherwise we wouldn't have been making the progress."
