Government puts $73 million into BEL, but company says it still needs more money
The government purchased preference shares in BEL for $73 million. Executive Chairman Lynn Young stated that this investment will not resolve all of the utility's financial issues. The company has requested that the Public Utilities Commission increase the Cost of Power Adjustment cap. They are asking to double the limit from 5% to 10%.
By Breaking Belize News Staff (HP): Government’s $73 million purchase of BEL preference shares will not solve all of the utility’s money problems, according to Executive Chairman Lynn Young. BEL has also asked the Public Utilities Commission to double the Cost of Power Adjustment (COPA) cap from 5% to 10%. Young explained what that could […] The post Government puts $73 million into BEL, but company says it still needs more money appeared first on Belize News and Opinion on www.breakingbelizenews.com .