Belize Electricity Limited (BEL) has formally submitted an application to the Public Utilities Commission (PUC) requesting authorization to implement an average electricity price increase of 5.55 cents per kilowatt-hour, effective January 1, 2026.
The utility company cites substantial financial pressures as the primary driver behind this proposed adjustment. BEL seeks to recover approximately BZ$87.5 million in accumulated energy expenditures incurred between July 2023 and October 2025. Additionally, the company anticipates requiring another BZ$20.9 million to cover projected costs through June 2026, bringing the total sought recovery to approximately BZ$108.4 million.
Multiple factors contribute to these financial challenges, according to BEL’s filing. Seasonal demand surges during dry periods have necessitated increased reliance on higher-cost gas turbine generation. The company has also incurred expenses for temporary generation solutions and more expensive electricity imports from Mexico to meet national demand.
Despite the proposed rate increase, BEL emphasizes that Belize’s electricity prices would remain among the most competitive in the region. The company asserts that even with this adjustment, Belize would maintain lower rates than most Caribbean and Central American nations.
The Public Utilities Commission will now conduct a comprehensive review of BEL’s application, examining the justification for the requested increase and its potential impact on consumers. The regulatory body will evaluate the company’s cost recovery claims before rendering a final decision on the proposed rate adjustment.