Belize presents an interesting case of improved performance through corporatization and private sector participation in a small power system. The statutory Belize Electricity Board was transformed in 1992 into a stock corporation -- Belize Electricity Limited (BEL), government retaining directly 51 percent of the voting stock and a further 11.5 percent indirectly, through the social security board. The remainder of the stock was sold to private investors. Management of the company, although still selected by government is now responsible to all shareholders. As a result of these changes, BEL has noticeably improved its operating performance -- losses have been reduced, collections and cash flow have improved and tariff reductions have been forecast for the future, even though dividends and income taxes are now being paid. In 1991, the company signed a power purchase agreement with a privately-owned independent power producer to purchase the full output of a 25 megawatt from the Mexican government owned utility.
Details
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Author
Moscote, Rafael A. Zolezzi, Eduardo
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Document Date
1994/05/31
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Document Type
Departmental Working Paper
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Report Number
19832
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Volume No
1
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Total Volume(s)
1
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Country
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Region
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Disclosure Date
2010/07/01
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Doc Name
Power sector reform in Belize
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Keywords
power sector reform;Electricity;power purchase agreement;asset and liability;private sector equity;provision of service;sale of share;license holder;transmission and distribution;kv transmission line;electricity supply contract;operations and maintenance;loss reduction;majority of share;high level position;hydroelectric power plant;Cash flow;electrical system;operational performance;private investor;cross subsidization;tariff reduction;hydro plant;private developer;local reserve;kv line;bank finance;summary sheet;distribution loss;direct competition;rural village;golden share;government grant;hydroelectric development;ownership change;share capital;private use;government supply;safety regulation;promoting competition;electricity service;town council;installed capacity;voting stock;stock corporation;small power;interesting case;sugar industry;electric utilities;transmission system;hydroelectric resource;transmission capacity;financing option;energy production;investment cost;cost of energy production;
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Citation
Moscote, Rafael A. Zolezzi, Eduardo
Power sector reform in Belize (English). LATAD dissemination note Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/752121468742146550/Power-sector-reform-in-Belize