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Power sector reform in Belize (English)

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.

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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