In yesterdays News: Independent Expert recommends price hikes for B.E.L.[/u]
and the proposed increase is about 8%.
Today: [u]B.E.L. not thrilled with expert’s recommendations[/u] When Belize Electricity Limited made its annual rate application, the company said skyrocketing oil prices mandated a thirteen point four percent increase in the price of power. The P.U.C., in an initial decision that may have had more to do with politics and public opinion than math, said an emphatic no to any rise in rates. Now that the independent expert, appointed under the regulatory rules, has recommended a seven point nine percent hike, where do we stand? Today News Five sat down with B.E.L. Chief Executive Officer Lynn Young to ask if he could live with the expert’s plan.
So when we follow this recommendation it will be a victory for the GOB and a defeat for Fortis? WRONG!
This is how we get an increase forced without embarrassment for GOB - don't forget, we already have the most expensive electricity in the world with the poorest quality and service!
Fortis is from Canada if I'm correct, and power over there costs US$ cents 6.18 per kilowatt hour (see: [u]Wikipedia
) while we are paying (without the increase) about US$ cents 24.8 per kilowatt hour (source: my electricity bill) - that's right about four times as much!I WANT THE 50% DECREASE THAT UDP PROMISED DURING ELECTION TIME!