Energy Minister confident in BEL despite revenue decline

Whether or not an investment in Belize Electricity Limited remains a sound decision following the company’s recently reported loss in revenue, is a recent question posed to Minister of Energy Michel Chebat.  The financial performance has raised questions as BEL moves ahead with plans intended to strengthen the country’s electricity system and support future energy needs.  Chebat, however, expressed confidence in the utility’s ability to recover. He indicated that BEL remains a critical national company with the capacity to improve its financial position while continuing to invest in a more reliable and sustainable electricity supply.

Michel Chebat, Minister of Public Utilities: “It’s never a loss when you invest in BEL. Remember that BEL has to keep the lights on. And listen, I don’t know about you all but when my light go off at my house, I get mad, right? I get mad. We need to keep the lights on. BEL is one of our fundamental institutions that requires our support. And yes, they’re going through some challenges right now, but I have no doubt that in a few years, the returns we have not gotten now we’re gonna be getting down the road and perhaps double. So I have every faith in BEL.”

The Minister maintains that the company’s long-term prospects remain strong and that its strategic importance to Belize’s development should also be considered when assessing its investment potential./