Belize Electricity Limited

Belize Electricity Limited (BEL) is the primary distributor of electricity in Belize, Central America. Aggregate energy sold was approximately 552.5 gigawatt hours (GWh) in 2017, up from 541 GWh in 2016. The Company served a customer base of 94,450 accounts, up from 90,635 accounts previously, with a peak power demand of approximately 104 megawatts (MW) during the year.

BEL’s national electricity grid connects all major municipalities (load centers), except for Caye Caulker, with approximately 1,900 miles of transmission and primary distribution lines. The grid is primarily supplied by local Independent Power Producers (IPP) utilizing hydroelectricity, biomass, petroleum and solar energy sources, and is secured and stabilized by the interconnection with Mexico. BEL also operates a gas turbine plant as a standby plant for energy security and reliability. As of 2017, 58% of electrical production was renewable, 5% was non-renewable, and 37% was imported.

The Government of Belize is the largest shareholder in BEL, with direct ownership of 32.6% interest in the Company. The Social Security Board owns 31.2% interest in the Company, so that the public sector interest amounts to 63.8%. Fortis Cayman Inc. owns 33.3%, and over 1,500 small shareholders own the remaining 2.9% interest in ordinary shares.[1]^:1