Fortis Belize Faces Regulatory Hurdles Amid Energy Oversupply

Fortis Belize Faces Regulatory Hurdles Amid Energy Oversupply

Keeping on the topic of energy, Fortis Belize, the largest supplier of in-country generated electricity, has reportedly not been able to sell all its energy. Our newsroom understands that the Public Utilities Commission, the regulator, has not approved the Canadian-rooted company’s request to increase the amount of energy it sells to BEL. Fortis, which operates the only three dams in the country, says it provides up to forty percent of the country’s energy needs and could increase that supply. However, Prime Minister John Briceno says that while the possibility is not being blocked by the PUC, some conditions that would follow are not in the best interest of consumers. 

Hon. John Briceño, Prime Minister of Belize: “I’m not sure if they were turned, I think what Fortis needs to talk is about starting to reduce the price of energy that they sell to Belize. Unfortunately when we signed that agreement it has a clause that the price goes up I think it’s every year by a small percentage. So that price continues to go up instead of going down. So Fortis needs to come to Belize and for us to negotiate how we can bring down that price that’s the first thing. Secondly if they want to get into solar they’re welcomed to do so, we need the energy but it has to be at a price that is affordable to all Belizeans.”

Our newsroom understands that Fortis Belize has a fifty-year contract, which stipulates that the company be paid in US dollars.

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