PUC Gives A Breakdown of How Utility Rates Are Set
- Economy, Banking & FinanceGovernment & Politics
- November 23, 2022
- No Comment
The Public Utilities Commission of Belize (PUC) held a media session this morning to share information on the methodology that is used to set utility rates. The PUC is the autonomous body responsible for the regulation of electricity, water, and telecommunications, these utility companies, and ensuring that they provide high-quality, affordable services to consumers. The PUC’s Director of Tariffs, Standards and Compliance, Ernesto Gomez, explains that prices fluctuate based on the development costs incurred by the companies throughout the year.
The PUC is also responsible to encourage and implement infrastructural upgrades to ensure that the services consumers receive are reliable and sustainable. Each year, companies must submit a report for a comprehensive review of their yearly performance. Gomez says this ensures that consumers are receiving a reasonable product for what they are paying.