In its submission to the Public Utilities Commission on April 1st, the Belize Electricity Limited requested an average reduction of 10.4% in the Mean Electricity Rate (MER) from 41.29 cents to 37 cents per kilowatt hour, primarily due to the savings achieved in the cost of power purchased from Comisión Federal de Electricidad.
The PUC, in its initial decision delivered on April 30th, approved a MER of 35 cents per kilowatt hour, representing an average reduction of 15.24% for all customer classifications. Word tonight is that BEL has reviewed and submitted its written comment to the Public Utilities Commission.
In a release issued today BEL states that it is pleased that the PUC has approved a reduction in rates and has no objections to the PUC’s Initial Decision. However, the Initial Decision can only be sustainable if the variables used in computing the decision are achieved. While BEL’s submission was based on rate stability, the PUC made its Initial Decision in accordance with the prescribed Rate Setting Methodology. However, BEL is of the belief that the strict application of the RSM, specifically the immediate and full correction in the last year of this Full Tariff Review Period, may result in an increase in rates at the next FTRP commencing July 2016.
The release further states that the company is prepared to continue the open dialogue with the PUC as it prepares to make its Final Decision regarding BEL’s 2015/16 ARP submission and prepare for the 2016 FTRP.
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