Monday, June 17, 2024

BEL Establishes Relationship with CFE Affiliate

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Belize Electricity Limited (BEL) has established a new relationship with Mexico’s Comisión Federal de Electricidad (CFE) through its affiliate company, CFE Calificados to create new opportunities for energy trade. A new Power Purchase Agreement (PPA) was signed today with CFE Calificados, enabling BEL to purchase more power from Mexico when prices are low. This new agreement replaces the previous PPA with CFE. “We are capitalizing on our strong relationship with CFE to sustain BEL’s reliable and affordable service to customers, while positioning the Company to participate in Mexico’s energy market,” said BEL’s Chief Executive Officer, Mr. Jeffrey Locke. One major improvement resulting from this new PPA is that BEL, in partnership with its local suppliers, can now trade energy in the Mexican market.

CFE Calificados’ Director General Ms. Katya Somohano Silva and
BEL’s CEO Mr. Jeffrey Locke sign new Power Purchase Agreement

“This is an extraordinary example of new ways how markets can work together,” said CFE Calificados’ Director General, Ms. Katya Somohano Silva. “Even though we have larger customers, none is comparable to BEL. The uniqueness of this relationship is that we get to serve an entire country. Therefore, we are committed to providing the best possible service.” The PPA was signed at BEL’s Corporate Headquarters and witnessed by the representatives from the Ministry of Foreign Affairs, Mexican Embassy, the Public Utilities Commission and BEL’s Board of Directors.

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