You probably haven't noticed yet, but on January 2nd, your electricity rate went down. The PUC approved a 5% rate cut, bringing the average rate to
41.29 cents per kilowatt hour, down from 43.47 cents. Today the PUC's Director of Electricity told us what the rate cut means to you, and how the lower
cost of power generation allowed it to happen:..
Derek Davis - Director of Electricity, PUC
"A 5% reduction enters and the average and therefore each classification approximately 5% reduction."
Jules Vasquez
"Okay, so then my light bill in December was 100 and assuming that I have the same exact usage, my light bill in January"
Derek Davis
"95 dollars."
Derek Davis
"End of the day we can offer this 5% reduction due to, like I said generation cost is reduced. Next adjustment will be July 1, 2015 and we are seeing
another reduction."
Jules Vasquez
"And that is based on?"
Derek Davis
"The reduction of generation cost again. The Mexican CFE is forecasting they will have available more gas and then there is the lower oil prices that
we can look forward to. So with that, we think there will be some reduction again."
Jules Vasquez
"Might we someday see average rates lower than 40 cents per kilowatt hour?"
Derek Davis
"With what is happening with the generation cost, oil and with the new projects we are looking to implement which is more hydro, I think it will easily
be below 40 cents Belize."
The rate will remain in effect until June 30th, 2015. The 5% cut is more than the 3.4% BEL had proposed but the government controlled power company did
not object to the PUC's revision.
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