Belize Electricity Limited Plans Half a Billion Dollar Investment in Energy Sector

Belize Electricity Limited Plans Half a Billion Dollar Investment in Energy Sector

Belize Electricity Limited plans to invest more than half a billion dollars in the energy sector according to the company’s 2024-2028 Full Tariff Review Proceeding Application. On March 22, BEL applied to the Public Utilities Commission for a full tariff Review proceeding (FTRP) for September 2024 to June 2028, which contained four major proposals. These included the investment of over five hundred million dollars during the period. BEL issued a statement today regarding the application saying quote, “In line with our plan to build a modern energy services infrastructure that can meet the evolving energy needs of the Belizean economy, these investments will focus on the interconnection of new generation sources, transmission and substation expansion and upgrades for enhanced reliability, urban and rural electrification, and grid modernization,” end of quote. The proposal also includes the introduction of new tariffs and prices for electric vehicle charging, distributed generation, and Tourism Customers. These tariffs are aimed at stimulating growth in those areas, which have been deemed to be “high-potential markets”. BEL’s proposal also addresses the recovery of balances from previous periods arising from differences between the actual costs incurred and revenues collected. The company says that this will also address future periods, when the cost of power is sufficiently low and sales are higher, to ensure price stability and predictability.

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