The Renewable Energy Industry in CARIFORUM Countries

RENEWABLE ENERGY INDUSTRY STAKEHOLDER ASSESSMENT

BELIZE

3.4.2 | UTILITIES REGULATOR

The nature of the PUC’s role does not necessitate significant discussions with the financial and education institutions.

The regulator for the energy sector in Belize is the Public Utilities Commission (PUC) which is an autonomous institution governed by the provisions of the PUC Act. Its powers are defined within the PUC Act and may also include additional powers provided by any other law conferred by the parliament of the Government. The PUC fulfils much of its statutory obligations through Regulations, By-laws, Orders, Directives or other subsidiary legislation or administrative orders made under the Electricity Act, the Telecommunications Act and the Water and Sewerage Act (PUC, 2018); the Acts which govern the utilities it oversees. The PUC promotes competition and economy in the generation and supply of electricity and the efficient use of electricity supplied to customers, along with the granting of licences, setting and reviewing electricity rates and investigates queries and complaints. Their staff complement is 34 to oversee all 3 utilities; water, electricity and telecommunications. Their relationship with the other key stakeholders is depicted in the diagram right.

LEAD GOVERNMENT MINISTRIES

PRIVATE SECTOR INSTITUTIONS

REGIONAL INSTITUTIONS

UTILITIES REGULATOR

FUNDING AGENCIES

FINANCIAL INSTITUTIONS

HIGHER EDUCATION INSTITUTIONS

RENEWABLE ENERGY COMPANIES

Figure 3.18 | Relationships of Belize’s Utilities Regulator

3.4.3 | FINANCIAL INSTITUTIONS

The financial institutions in Belize include commercial banks, credit unions and other financial institutions. They have most of the local lending capacity required to finance the private sector. There is also a state- owned development bank which extends favourable terms and conditions to the RE sector of 6% (4-6% below market rates) for RE and greening projects. The private commercial entities do not have any special emphasis on the RE sector or related projects. They do acknowledge the new opportunities, but their lending criteria is applied across all sectors; that is, risk assessment, payback, ability to pay, management

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The Renewable Energy Industry in CARIFORUM Countries