Posted: Friday, October 17, 2025. 9:48 pm CST.
By Aaron Humes: Prime Minister John Briceño addressed concerns regarding electricity prices in Belize, highlighting the government’s strategic negotiations with Fortis Belize. Briceño emphasized the distinct differences between the previous government’s acquisition of Belize Telemedia Limited (BTL) and the current dealings with Fortis, stating, “When the previous government acquired BTL, it was thirty-five times [the] earnings. At Fortis Belize, we are getting it at six times. So, it is different at BTL. So, it is a good deal.”
The Prime Minister expressed confidence that the ongoing negotiations for the sale of shares in Belize Electricity Limited (BEL) are in the best interest of the Belizean people. He noted that the previous administration had signed a put option for $62 million in 2019, but through careful negotiation, the current government managed to reduce that figure by over sixty percent.
He went on to further deny his Government had denied Fortis the opportunity to pursue solar options, saying he personally had gotten involved in the discussions between BEL and the Public Utilities Commission (PUC). He revealed that BEL has formally requested the declaration of an energy emergency to speed up the acquisition of new sources of energy, including solar. As part of the small island developing states (SIDS), Belize has been part of discussions, including installing a rubber wall above the standing dam to retain more water.
Briceño acknowledged the challenges BEL faces, explaining that the company has been selling electricity below the cost of acquisition, a practice that is unsustainable for any business. He commended BEL’s efforts to operate within a difficult price range but stressed the need for a thorough review of the financial situation to address the issues at hand.
Reporters pressed Briceño on whether increased electricity rates are on the horizon, to which he responded, “I know that everybody knows it, and I don’t need a lecture from you. It is the truth, and everybody knows that. Our citizens understand that we have been doing our best to hold down the cost of energy, but the cost of energy has gone up significantly, and so it is something that has to be addressed – there is no skirting around it.”
Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Belize ~ We offer fully customizable and flexible digital marketing packages. Your content is delivered instantly to thousands of users in Belize and abroad! Contact us at mаrkеtіng@brеаkіngbеlіzеnеwѕ.соm or call us at 501-612-0315.
© 2025, BreakingBelizeNews.com. Content is copyrighted and requires written permission for reprinting in online or print media. Theft of content without permission/payment is punishable by law.
The post Prime Minister John Briceño: BEL still a safe investment, but prices not yet in our control appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Friday, October 17, 2025. 9:48 pm CST. By Aaron Humes: Prime Minister John Briceño addressed concerns regarding electricity prices in Belize, highlighting the government’s strategic
The post Prime Minister John Briceño: BEL still a safe investment, but prices not yet in our control appeared first on Belize News and Opinion on www.breakingbelizenews.com.
