And something positive is just what BEL has in mind as a sort of Christmas gift for consumers. The company announced today that it wants to cut electricity rates by 3.4%, taking the average rate down from 43.47 cents per kilowatt hour to a flat 42 cents.
The power company made the request to the Public Utilities Commission yesterday based on savings it has realized in the cost of power, principally from Mexico's CFE. Indications are that CFE's cost of power to BEL may continue to go down which would again redound to the benefit of Belizean consumers. Last year BEL sourced 42% of its power from Mexico.
This is the fourth consecutive application by BEL to the PUC to lower electricity rates since 2013.
It still pending approval by the PUC, but if approved The new rates would go into effect from January to June of 2015.
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