BWS is not asking for a rate increase
The Belize Water Services says that it is not requesting an increase in the rates we pay for water. The company said in a statement today that it submitted to the Public Utilities Commission its Annual Tariff Review Proceeding. However, interestingly, the company says that there are several factors, which combine to create what they say are quote “sufficient exceptional circumstances to trigger a review.” One of those things is the COVID-19 pandemic, which the company says has caused a significant reduction in its revenues over the last few years compared to the 2020 forecasts. The company says that it is seeing a return to normal of its usual revenues, but alongside that are consistent and persistent increases in the costs of materials and services, which have an impact on the company’s operating costs and capital expenditures. Simultaneously, the company argues that there is the need to perform capital investments to expand services and improve assets to enhance and secure the delivery of its services. The company says that while it is proposing to keep rates the same for all customers, some upticks in revenue are expected due to economic growth and recovery from the pandemic. These are expected to help the company maintain its operations and perform capital investments for the final two years of the ongoing full tariff period.