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Copyright © Energy Unit, Ministry of Public Utilities, Energy, Logistics, and

E-Governance, Belize

All rights reserved.

September 2024

Unless otherwise indicated, the contents of this publication may be freely used,
shared, printed, and/or stored, provided that proper credit is given to the Belize Energy
Unit, under the Ministry of Public Utilities, Energy, Logistics, and E-Governance, as
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third parties may be subject to separate terms of use and restrictions. Appropriate
permissions from these third parties may need to be secured before using such material.

Citation:
Energy Unit, Government of Belize. (2024). 2023 Belize annual energy report. Ministry
of Public Utilities, Energy, Logistics, and E-Governance. Belmopan City, Belize.

Acknowledgements

Prepared by: Geon C. Hanson and Areli J. Sutherland.

Designed by: Bridget Rhys

Printed by: The European Union

The authors and the Ministry extend their gratitude to the Line Ministries and
Departments within the Government of Belize, Belize Electricity Limited (BEL),
the Public Utilities Commission (PUC), Independent Power Producers (IPPs),
Belize Natural Energy Limited (BNE), Farmers Light Plant Corporation (FLPC),
the National Gas Company (Belize) Limited, Puma Energy Bahamas S.A.
(PUMA Energy), the Statistical Institute of Belize (SIB), and other national
energy data providers for their valuable contributions to this publication.

Disclaimer:

This publication and its contents are provided “as is.” Neither the Energy Unit nor any
of its officials, data providers, or third-party content providers offer any warranty, either
express or implied, and they accept no responsibility or liability for any consequences
arising from the use of this publication or the material contained herein. The mention
of specific companies, projects, or programs does not imply endorsement or
recommendation by the Energy Unit over others of a similar nature that are not mentioned.
Foreward
The world’s energy system continued
to experience major changes in 2023
stemming from economic and geopolitical
developments and climate change
impacts. The urgency for sustainable
energy solutions has never been more
pronounced, with countries grappling
with the predicament of ensuring energy
security while accelerating their efforts to
combat the impacts of climate change.
Having major implications for modern
economies, Energy, must be considered
central to global climate action.

Notably, human-induced climate change

has spurred devastating consequences
of recent around the world – infrastructure
destruction, loss of livelihood, degradation
of ecosystems, and the displacement
of populations, which underscores the
importance of shifting to a low-carbon
economy with full commitment to reducing
greenhouse gas emissions. The positive
aspect is that governments worldwide
are advancing energy sustainability
by implementing policies that promote
renewable energy as a cost-effective and
reliable power source, enhance energy
efficiency, decrease reliance on fossil
fuels, and stabilize energy supplies to
curb inflation. Belize is no exception in
this global effort.
Having recognized our vulnerability to the impacts of climate change, Belize has made
significant strides to align its national energy policies with international commitments,
including the Sustainable Development Goals (SDGs) and the Paris Agreement. The
National Energy Policy (2023-2040) underscores our dedication to a sustainable and
resilient low-carbon energy pathway as we become a key contributor to global climate
action. Belize’s journey toward a low-carbon energy future is about more than just meeting
targets; it’s about embracing a holistic approach to energy sustainability that benefits both
its people and the planet.

This Annual Energy Report for 2023 provides a comprehensive overview of Belize’s
energy sector, examining key trends, statistics, and developments over the past year.
It highlights the progress made towards achieving the country’s energy goals and the
challenges and opportunities that lie ahead. In doing so, it aims to support analysts,
policy makers, and the public in making informed decisions that drive sustainable energy
initiatives.

I extend my sincere gratitude to the dedicated team within the Ministry of Public Utilities,
Energy, Logistics, and E-Governance for their work in producing this report. To our
partners and stakeholders who provided invaluable support throughout the process,
I thank you! Together, we are actively contributing to advancing Belize’s energy agenda
and so, shaping a sustainable and resilient energy future for all!

HON. MICHEL CHEBAT, SC.

MINISTER, MINISTRY OF PUBLIC UTILITIES, ENERGY, LOGISTICS & E-GOVERNANCE
Contact Information

The Energy Unit is a subsidiary of the Ministry of Public Utilities, Energy, Logistics, and
E-Governance in Belize. Correspondence should be addressed to the main ministry, while
personal contact or referrals can be made via the following phone number and email
address. Any questions, comments, or suggestions are welcome.

Ministry of Public Utilities, Energy, Logistics, and E-Governance

Second Floor, Toucan Plaza,

7299 George Price Boulevard
Belmopan City, Cayo District
Belize.

Telephone: +501 828-5986

Email: [email protected]
Website: www.energy.gov.bz or www.mpuele.gov.bz
Basil Hailward
Co - Founder
Table of Contents
Foreword 4
Contact Information 6
Table of Contents 8
List of Tables 10
List of Figures 11
» p.16
Abbreviations 14
Key Findings 16
1 Introduction 17
1.1 Overview of Report
1.2 Energy Policy Framework
1.2.1 National Energy Policy 2023
1.2.2 Electricity Regulatory Reform, Bylaws

» p.24 » p.32
2 Overview 24
2.1 Energy Balance
2.2 Energy Indicators
2.2.1 Energy Intensity Measure in Terms of
Primary Energy and GDP
2.2.2 Energy Import as a Share of Total
Primary Energy Supply (TPES)
2.2.3 Renewable Energy Share of Total
Primary Energy Supply
2.2.4 Percentage of Renewable Energy in
Electricity Mix
» p.42 2.2.5 Renewable Energy Generating
Capacity per Capita
3 ENERGY SUPPLY AND FINAL CONSUMPTION 32
3.1 Total Energy Supply
3.2 Energy Trade Data
3.3 Primary Energy
3.3.1 Primary Energy Supply by Fuel Type
» p.52 3.3.2 Crude Oil and Natural Gas Production
» p.62
3.4 Secondary Energy
 3.4.1 Secondary Energy Supply by Fuel Type
3.4.2 Imports of Petroleum and Gas Products
3.5 Final Consumption
3.5.1 Total Final Consumption, by Fuel Type
3.5.2 Total Final Consumption, by Sector
3.5.3 Gross Electricity Consumption, by Sector
4 Electricity Sector 42
4.1 Electricity Purchase and Sales
4.2 Installed Electricity Generation Capacity
4.3 Peak Electricity Demand
4.4 Gross Electricity Production
4.5 Electricity Production by Fuel Type
4.6 Electricity Production by Plant Type
4.7 Share of Electricity Production by Source and Fuel Type
4.8 Electricity Export and Import
4.9 Electricity Losses
5 Energy Prices 52
5.1 Crude Oil Prices
5.2 Petroleum Products Price
5.2.1 Average Pump Price for Refined Petroleum Fuels
5.2.2 Annual Average Price for Liquified Petroleum Gas (LPG)
5.3 Mean Electricity Rate
5.4 Average Cost of Power
5.4.1 Average Cost of Power
5.4.2 Average Cost of Power by Technology Types
5.5 Electricity End-User Tariff

6 Environment and Climate Protection 62

6.1 Energy Sustainability Goals
6.1.1 Sustainable Development Goal 7
6.1.2 Nationally Determined Contributions (NDCs)
6.1.3 National Energy Policy 2023
6.2 GHG Emissions from the Energy Sector
6.3 Grid Emission Factor for Belize
Appendices 72
Appendix A: Glossary of Terms
Appendix B: Data Tables
Appendix C: Methodological Notes
Appendix D: Measurement/Conversion Units
Appendix E: Reference
2023 | The Belize Energy Report

List of Tables
Table 1. Belize Energy Balance, 2023 (Simplified format)

Table 2. Belize Electricity Limited (BEL) Customer Tariff Groups and Rates, 2023
Table 3. Sustainable Development Goal 7: Targets

Table 4. Belize’s NDC (2021) Energy Sector Commitments: Targets and Actions

Table 5. Belize National Energy Policy 2023-2040 Targets and Goals

Table 6. Grid Emission Factor for Belize

Table 7. Detailed Energy Balance
Table 8. Petroleum Products Importation Figures - 2023
Table 9. Installed Electricity Generation Capacity
Table 10. Refined Transportation Fuels Prices: Regional Comparison
Table 11. LPG Prices: Regional Comparison
Table 12. Mean Electricity Rates: Regional Comparison
Table 13. Multiples of Energy Units

Table 14. Conversion Table for Units Used in this Publication

10
 List of Figures
Figure 1. Belize National Energy Policy 2023

Figure 2. Energy Flow in the Energy Balance

Figure 3. Historical Timeline of Energy Intensity in Belize
Figure 4. Energy Import as Share of Total Primary Energy Supply, 2014 – 2023
Figure 5. Renewable Energy Share of Total Primary Energy Supply, 2014-2023

Figure 6. Renewable Energy Share in the Electricity Mix, 2014-2023

Figure 7. Renewable Energy Generating Capacity, 2019-2023

Figure 8. Total Primary Energy Supply, 2023
Figure 9. Historical Timeline of Total Primary Energy Supply, 2019 – 2023
Figure 10. Overview of Energy Trade Data, 2023
Figure 11. Belize Primary Energy Supply by Source, 2023
Figure 12. Historical Timeline of Fossil Fuel Production, 2019 – 2023
Figure 13. Secondary Energy Supply, by Fuel Type – 2023
Figure 14. Volume of Petroleum Products Imported in 2023

Figure 15. Final Energy Consumption for 2023, Disaggregated by Fuel Type

Figure 16. Final Energy Consumption for 2023, Disaggregated by Consumption Sectors

Figure 17. Electricity Consumption Timeline Across Sectors for National Utility

Figure 18. Belize’s Available Electricity Generation Capacity (Megawatts, MW)

Figure 19. Peak Power Demand for BEL’s Grid: Historical Timeline.

Figure 20. Historical Timeline of Gross Electricity Generation, 2014-2023

Figure 21. Electricity Generation by Fuel Type: 2019-2023

Figure 22. Electricity Generation by Plant Type: 2019-2023

Figure 23. Share of Electricity Supply Sources by Type, 2023

Figure 24. Share of Electricity Supply by Source Fuel, 2023

11
2023 | The Belize Energy Report

List of Figures
Figure 25. Electricity Flows from Sources to End-Consumption: Sankey Flowchart

Figure 26. Electricity Imports to the National Grid: Historical Timeline

Figure 27. Transmission & Distribution Losses for BEL’s National Grid, 2014-2023
Figure 28. Crude Oil Prices – Local Vs. International: 2019-2023
Figure 29. Comparative Prices for Imported Refined Fuels: 2023 Average Prices

Figure 30. Regional Prices for Premium Gasoline: 2020-2023

Figure 31. Regional Prices for Regular Gasoline: 2020-2023

Figure 32. Regional Prices for Diesel: 2020-2023
Figure 33. Regional Prices for Liquified Petroleum Gas (LPG): 2020-2023
Figure 34. Mean Electricity Rate for Belize Electricity Limited (BEL): 2014-2023
Figure 35. Regional Comparison of Mean Electricity Rates: 2014-2023
Figure 36. Cost of Power for Belize Electricity Limited (BEL): 2020-2023
Figure 37. Cost of Power for Belize Electricity Limited (BEL): 2020-2023
Figure 38. Total Annual Energy Sector GHG Emissions

Figure 39. Annual Energy Sub-Sector GHG Emissions, 2018-2019

12
13
2023 | The Belize Energy Report

Abbreviations
AFOLU Agriculture, Forestry, and Other Land Use

BAPCOL Blair Athol Power Company Limited

BEL Belize Electricity Limited

BELCOGEN Belize Co-Generation Energy Limited

BNE Belize Natural Energy Limited

CCK Caye Caulker

CCREEE Caribbean Centre for Renewable Energy and Energy Efficiency

CDM Clean Development Mechanism

CEPAL (Spanish) Economic Commission for Latin America and the Caribbean

CFE Comisión Federal de Electricidad (state-owned utility of Mexico)

DG Distributed Generation

FLPC Farmer’s Light Plant Corporation

EBT Energy Balance Table

GDP Gross Domestic Product

GEF Grid Emission Factor

GHG Greenhouse Gas

HDI Human Development Index

IEA International Energy Agency

IRENA International Renewable Energy Agency

IRES International Recommendations for Energy Statistics

IPP Independent Power Producer

IPPC Intergovernmental Panel on Climate Change

LAC Latin America and Caribbean

LED Light-Emitting-Diode

14
LPG Liquified Petroleum Gas

MER Mean Electricity Rate

NDC Nationally Determined Contributions

PPA Power Purchasing Agreement

PUC Public Utilities Commission

PUMA Puma Energy Bahamas S.A.

PV Photovoltaic

RE Renewable Energy

SDG Sustainable Development Goal

SIB Statistical Institute of Belize

SIDS Small Island Developing States

SSEL Santander Sugar Energy Limited

TPES Total Primary Energy Supply

TJ Terajoules

UB University of Belize

15
2023 | The Belize Energy Report

Key Findings
Energy Intensity Down Total Energy Supply
Year-on-Year Improvement
0.170 toe/$1000 USD 17,724.8 TJ
In 2022 In 2023

Hydrocarbon Production 70.8%

Energy Import Share
of Total Energy Supply
Crude Oil Natural Gas
Down Imports accounted for
Down
99.5% of total energy
10.1% 27.2%
trade.

Crude Oil: Sold locally and exported Main Imports: Petroleum products (liquid state)

38% Peak Demand:

127.2 MW
Generation Capacity
Renewable Energy
Share in the In-Country
134.7 MW
Electricity Mix in
Production led by
Hydro-electric 2023
Imports (CFE, Mexico)
plants Down from 52.9% in 2022 Highest on record 50 MW

Mean $0.402 Electricity prices

Petroleum Products Prices
Electricity BZD/kwh have remained
$$$ down Rate (MER) mostly stable
year-to-year
Belize has higher Non-Renewable
Energy prices in Belize are electricity costs
consistently highest across all Thermal Plants,
compared to most
fuel types in comparison with of its Central American are most expensive
other Central American countries. counterparts (2022). and price volatile

Largest Share - Final Energy Consumption Energy GHG Upward Trend -

Emissions 845.9 Gg CO2eq
By Fuel Type By Sector In 2019
Transport Residential
Transport Sub-sector:
most significant
Gasoline
Diesel Electricity
contributor

16
 Introduction
1.1 OVERVIEW OF REPORT                                   
As a critical enabler of social and economic development, energy has played, and
will continue to play, a significant role today and for generations to come, serving as
the foundation of all modern economies. For Belize, a country with a relatively small
economy on the northeastern coast of Central America, energy is a vital component
that supports essential services, drives industrial growth and innovation, and enhances
the quality of life for its citizens. The tangible benefits of the energy sector for Belizean
society are far-reaching and extend across various facets of the economy, including
agriculture, production, and transportation, shaping the nation’s productivity and
competitiveness. Belize’s economic stability and growth are heavily dependent on
effective energy management and sustainable practices, highlighting the insights in this
report as indispensable.

In 2023, Belize’s energy sector experienced significant developments and challenges.

The continued global energy market fluctuations, deeply influenced by geopolitical
tensions and the efforts of governments around the world to implement the Paris Climate
Agreement, have had considerable impacts on the Latin American and Caribbean (LAC)
region, including Belize.

The 2023 Belize Annual Energy Report provides a comprehensive analysis of the
country’s energy landscape, offering critical insights and data essential for policymakers,
international partners, industry stakeholders, academia, and the public. This fifth edition
of the Belize Annual Energy Report builds on previous editions, incorporating the latest
developments, trends, and statistics to present a current and accurate picture of Belize’s
energy sector.

This report highlights key aspects of energy supply, trade, consumption, pricing, and the
environmental impact of energy activities. Accordingly, this document aims to:

• Provide essential data to support informed policy decisions and strategic planning.

• Monitor and evaluate the progress and effectiveness of energy policies and initiatives.

• Ensure transparency by making comprehensive data and analysis accessible to all

stakeholders.

• Serve as a valuable resource for academics and analysts studying Belize’s energy
dynamics.

17
2023 | The Belize Energy Report

The report is organized into six chapters, each focusing on a specific aspect of the energy
sector:

1. Introduction: This chapter sets the stage for the report, outlining its scope and
structure. It also highlights the Belize Energy Policy Framework, providing context for
the strategic direction in the energy sector.

2. Overview: This chapter presents Belize’s National Energy Balance and key Energy
Indicators, offering a high-level summary of the current state of the energy sector,
including major trends over the past decade and the past year.

3. Energy Supply and Final Consumption: This chapter examines the sources of
energy supply and their contribution to the overall energy mix. It also provides an
analysis of energy production, trade, and consumption patterns.

4. Electricity Sector: This chapter focuses on the electricity market, covering aspects
of electricity capacity, generation, sales, and trade data. It also explores the role of
renewable energy sources in electricity generation.

5. Energy Prices: This chapter offers an analysis of energy prices across different
segments, including petroleum products and electricity. It compares Belize’s energy
prices with regional benchmarks.

6. Environment and Climate Protection: This chapter highlights energy sustainability

goals, greenhouse gas (GHG) emissions from the energy sector, and initiatives aimed
at reducing carbon emissions and enhancing energy efficiency.

The Belize Annual Energy Report aims to provide a clear understanding of the current
energy landscape while offering valuable insights for future developments in the sector.

18
1.2 ENERGY POLICY FRAMEWORK                                   
Energy systems are a powerful tool for sustainable development, but the key challenge
is expanding access to affordable, reliable, and adequate energy services while
addressing environmental impacts at all levels. To achieve this, significant policy changes
are needed within the broader enabling environment (United Nations Development
Programme, 2000). As the energy landscape rapidly evolves, there is an urgent need
for energy policies that reflect the needs and inputs of various stakeholders to effectively
address emerging challenges.

In Belize, the energy policy landscape began in 2012 when the Government of Belize
endorsed the National Energy Policy Framework, outlining the country’s strategic
approach to energy management. This policy aimed to foster sustainable energy
development by integrating energy more deeply into Belize’s development, enhancing
energy security, and promoting energy efficiency and renewable energy sources. The
National Energy Policy Framework highlighted the need for energy planning which led
to the formulation of the Belize Energy Unit, acting as the administrative agent of the
energy sector responsible for planning and policymaking.

Following the National Energy Policy Framework, the National Sustainable Energy
Strategy and Action Plan was developed and endorsed in 2015. This strategic policy
document outlines a comprehensive approach to achieving energy security, sustainability,
and economic development through the increased use of energy efficiency measures
and renewable energy sources. The plan details the integration of diverse renewable
energy and energy-efficient technologies across key sectors and the promotion of energy
conservation practices. It also emphasizes capacity building, regulatory reforms, and
international cooperation to support these initiatives, ensuring resilient and sustainable
energy system for Belize.

The National Energy Policy Framework, which initiated the national energy agenda in
2012, along with the subsequent energy-related strategies, remains relevant but needs
to be updated due to technological advancements and shifting global energy markets.
Therefore, it is imperative to develop a new energy policy framework that addresses the
current needs of Belize’s economy, environment, and citizens.

19
2023 | The Belize Energy Report

1.2.1 NATIONAL ENERGY POLICY 2023                                    

The Government of Belize is committed to delivering a sustainable, secure, and affordable
energy future for all Belizeans. To reinforce this commitment, the Government of Belize
launched the new National Energy Policy 2023-2040 in November 2023 (Figure 1).
The policy, approved by the Cabinet, articulates a new energy agenda for the country
and seeks to “improve the country’s ability to effectively manage the energy sector,
stimulate social and economic development through the energy sector and other cross-
cutting sectors, and improve the sector’s contribution to achieving Belize’s updated
Nationally Determined Contributions” (Ministry of Public Utilities, Energy, Logistics, and
E-Governance (MPUELE), 2023).

The National Energy Policy 2023-2040 aims to transform the energy sector into a driver of
sustainable development and economic growth by implementing comprehensive energy
strategies, introducing new regulations and investing in energy infrastructure. These
efforts will significantly contribute to the country’s medium-term development plans and
climate commitments. The policy outlines seven key objectives, as detailed below:

1. Reduce Cost of Energy Services:

a. Energy Intensity Reduction: Collaboration among key ministries and
stakeholders to lower energy costs through reduced energy intensity.

2. Increase Indigenous Energy Sources in the Energy Supply Mix:

a. Research and Development: Establish mechanisms for research on
indigenous energy sources.
b. Fair Procurement: Implement transparent procurement processes for new
investments.
c. Public-Private Partnerships: Attract investments to boost local energy
production and reduce costs.

3. Increase Access to Energy Services:

a. Universal Access: Provide universal basic energy services to all citizens and
enterprises by 2030.
b. Grid-Tie and Microgrid Solutions: Support programs utilizing these solutions to
ensure comprehensive access.
c. Clean Energy Access: Create an environment for access to clean and
affordable energy services.

4. Improve Contribution to the Updated National Determined Contributions

(NDCs):
a. Multi-Sectoral Team: Establish a team to ensure the energy sector meets its
NDC targets.

20
5. Improving Governance in the Energy Sector:
a. Central Governing Body: Establish a central governing body (Department) by
law.

6. Strengthen Energy Management Capabilities:

a. Establish an autonomous procurement agency to manage energy infrastructure
and services.
b. Public Utilities Commission (PUC): Strengthen the legislative and operational
capacity of the PUC.
c. National Energy Company: Establish a company to manage government
investments in the energy sector.

7. Increase Access to Energy Information:

a. Provide comprehensive and accessible energy information to stakeholders to
support informed decision-making.

The policy urges a collaborative approach

across various sectors to ensure
cohesive and effective implementation.
This collaborative approach must be
embedded within robust governance
and regulatory improvements, as these
foundational decisions are crucial for
the successful implementation of the
policy’s strategic objectives. Additionally,
the National Energy Policy 2023-2040
underscores the importance of resource
mobilization and investment in achieving
its energy goals. Overall, the Belize
National Energy Policy 2023-2040 serves
as a comprehensive and forward-looking
guide aimed at transforming Belize’s
energy market into a resilient, sustainable,
and economically vibrant sector, while
aligning with global climate commitments
and ensuring equitable access to energy
services for all Belizeans.
» Figure 1. Belize National Energy Policy 2023

21
2023 | The Belize Energy Report

1.2.2 ELECTRICITY REGULATORY REFORM, BYLAWS                                    

A renewables-based energy transition is key to avoiding the worst effects of climate change
(International Renewable Energy Agency, 2022). A major component of this transition is
the conversion of electricity generation from carbon-derived energy sources to renewable
energy solutions. As such, a fast-growing feature of modern electricity systems is the
application of distributed generation (DG). DG refers to the generation of electricity from
sources, often renewable, located near the point of use, rather than from centralized
power plants (US Department of Energy, 2024). Deploying DG offers a multitude of
benefits, including diversifying energy production sources, reducing transmission and
distribution losses, improving grid stability and resilience, minimizing environmental
impact, and decreasing the need for new utility generation capacity investments
(Stein, 2024; Greening the Grid, n.d.). Consequently, it is increasingly important to
consider sustainable DG options and the challenges of integrating DG into Belize’s grid.

Under the PUC, regulator for the electricity sector in Belize, a process for the revision
of the “Electricity Licensing and Consent Regulations” was initiated in 2023. According
to the PUC, the newly proposed regulations aims to modernize the existing regulatory
environment for electricity supply, transmission, distribution, and storage. These
regulations represent a transformational shift in the electricity sector by making provisions
for the integration of renewable energy sources through the expansion of licensing
categories. The proposed range of electricity licensing categories accommodates various
energy producers, ranging from small residential generators to large-scale utility projects
such as wind and solar farms. Concurrently, an application for a revised tariff schedule
that reflects both consumption and production (grid-tied distributed generation and
feed-in) was submitted by Belize Electricity Limited (BEL) to the PUC. This application
examined demand rates and provisions for selling excess electricity back to the grid.
These regulatory changes in the electricity sector represent a significant decision point
in Belize’s pursuit of a more sustainable and resilient energy future, where distributed
energy source integration forms a part of a modern and smart energy system.

By leveraging the use of the amended regulations, the aim is to encourage and accelerate the
penetration of distributed generation, bringing Belize closer to its renewable energy targets.

22
The National Energy Policy
aims to enhance the
regulatory environment
to support DG and Grid
Connectivity, ensuring
a resilient & sustainable
energy infrastructure.

23
 2023 | The Belize Energy Report

2 OVERVIEW
2.1 ENERGY BALANCE                                    
According to the International Recommendations for Energy Statistics (2017), an energy
balance “is an accounting framework for the compilation and reconciliation of data on all
energy products entering, exiting, and used within the national territory of a given country
during a reference period.” Overall, an energy balance acts as a foundational tool for
gathering insight into a country’s energy dynamics. Consistent and precise reporting is
crucial for informed decision-making, effective strategic planning, and fostering a framework
to assess the effectiveness of initiatives aimed at attaining both national and global energy
and environmental goals.

The energy balance table (EBT) presents the supply-to-demand flow of all energy products
(Figure 2). Belize’s energy balance for 2023 is presented in Table 11, showing energy flows
in energy equivalence, terajoules (TJ).

» Figure 2. Energy Flow in the Energy Balance

1 Detailed Energy Balance table can be found in Appendix B, Table 7.

24
 » Table 1. Belize Energy Balance, 2023 (Simplified format)

Crude Natural Oil Biofuels Electricity

Energy Flows Energy Products Hydro Solar Heat Total
oil gas products1 2,3 4,5

Indigenous Production 917.3 34.2 - 636.1 23.4 4,609.6 - - 6,220.6

Imports - - 11,001.3 - - - 1,550.4 - 12,551.7

Exports -57.9 - - - - - - - -57.9

International marine bunkers - - - - - - - - 0.0

International aviation bunkers - - -1,027.1 - - - - - -1,027.1
Stock changes (+/-) 45.2 - - - - 37.5 - - 82.7
Total Energy Supply (TES) 904.7 34.2 9,974.2 636.1 23.4 4,647.1 1,550.4 0.0 17,770.0
Statistical Difference 11.4 0.0 0.0 0.0 0.0 37.5 3.2 0.0 52.2
Transfers - - - - - - - - 0.0
Transformation Processes -176.4 - -907.8 -636.1 -23.4 -3,997.8 1,515.3 - -4,226.2
Energy Industry Own Use -21.8 0.0 -2.1 0.0 0.0 0.0 -269.6 0.0 -293.5

Losses - -34.2 - - - - -337.7 - -371.9

Total Final Energy Consumption 695.1 0.0 9,064.4 0.0 0.0 611.8 2,455.1 0.0 12,826.3
Manufacturing Sector
527.0 0.0 0.0 0.0 0.0 0.0 119.8 0.0 646.8
Transport 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6,682.2

Road - - 6,476.1 - - - NR - 6,476.1

Domestic Aviation - - 206.1 - - - - - 206.1

Domestic Marine Navigation - - NR - - - - - 0.0

OTHER 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5,497.3
Residential - - 2,382.2 - - 611.8 938.5 - 3,932.5
Commercial and Public services 125.9 - - - - - 1,396.7 - 1,522.6

Agriculture/Forestry 42.2 - - - - - - - 42.2

NON-ENERGY USE 0.0 0.0 NR 0.0 0.0 - 0.0 0.0 0.0

Notation: - = Not Applicable, NR = Data Not Reported | Notes: 1 Oil products: Motor Gasoline, Diesel Oil,
Kerosene, Fuel Oil, Aviation Fuels, and Liquified Petroleum Gas. 2 Biofuels: Bagasse and Firewood. 3 Figures
exclude distributed generation from renewable sources.

25
 2023 | The Belize Energy Report

2.2 ENERGY INDICATORS                                    

The energy sector remains a primary driver of climate change, as it is responsible for a
significant portion of global CO2 emissions. Therefore, the demand for a global shift toward
clean energy is of utmost necessity to mitigate the risks and impacts of climate change.
In this context, the United Nations Sustainable Development Goal (SDG) 7 calls for the
delivery of affordable, reliable, sustainable, and modern energy for all. In conformity with
national objectives, countries aim to develop and use energy indicators to track targets and
progress towards the energy transition, with a focus for enhanced actions that will act as
levers to accelerate change.

The measurement of progress stemming from sustainable energy actions requires a

multifaceted approach, as no single metric can encompass the entire scope of the transition
toward clean energy. Nevertheless, energy indicators can break down high-level climate
and energy objectives into metrics that assess the current conditions of the energy system
at play. Energy indicators provide critical insights to assist policymakers, analysts, and
academia in understanding the effectiveness of existing energy policies and in developing
energy strategies for sustainable development and an equitable energy transition. Overall,
the energy indicators presented here are vital for driving the energy agenda and form a
cornerstone of Belize’s national energy policy framework.

2.2.1 ENERGY INTENSITY MEASURE IN TERMS OF PRIMARY ENERGY AND GDP

Under SDG 7 (Affordable and Clean Energy), Target 7.3 calls for the doubling of the global
rate of improvement in energy efficiency by 2030. Energy intensity, which is generally
defined as “the amount of energy used to produce a given output or service,” is used as
the indicator to measure an economy’s energy efficiency. For Belize, the energy intensity
measure represents “total primary energy supply in tons of oil equivalent (toe) per thousand
USD of GDP.” In accordance with SDG 7.3.1, this serves as a proxy indicator to track
Belize’s progress in energy efficiency.

The latest information2 provides energy intensity levels for Belize over a period of ten years,
showing a year-on-year improvement in energy intensity, measuring 0.170 toe/$1000
USD in 2022 (Figure 3). While this trend is positive, more work is needed to accelerate
improvements in energy efficiency to meet both national and global goals. Much of the
potential for improvement hinges on prioritizing energy efficiency measures within policy
frameworks and investments, as well as related avoided energy demand measures. Belize’s
National Energy Policy 2023-2040 recognizes the critical step of reducing energy intensity
across all sectors through collaboration with key governmental and non-governmental
entities.

2 Energy intensity levels for 2023 will be produced upon official release of updated GDP data from the Statistical Institute of Belize.

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The International Energy Agency (IEA) refers to energy efficiency as the “first fuel,”
representing the cleanest, cheapest, and most reliable source of energy, allowing
countries to reduce consumption while still providing full energy services to the economy
(International Energy Agency, 2022). Thus, energy efficiency important for supporting
economic growth and resilience while accelerating the clean energy transition.

» Figure 3. Historical Timeline of Energy Intensity in Belize

2.2.2 ENERGY IMPORT AS A SHARE OF TOTAL PRIMARY ENERGY SUPPLY (TPES)

Figure 4 reflects the proportion of Belize’s energy needs that are met through energy
imports rather than domestic production. In 2023, reliance on imported energy surged
to 70.8%, marking a 6.5% increase compared to the previous year’s figures. In 2023,
the main imported energy product was petroleum products (in liquid state), accounting
for more than three-quarters of all energy imported into Belize. The rise in the share of
energy imports was also supplemented by a significant increase in electricity imports
compared to the previous year (see section 4.8). This dependence on energy imports
exposes the vulnerability of Belize’s energy system to external disruptions, such as
current geopolitical risks and price instability.

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Belize’s dependency on energy imports has long been a point of contention and an important
element of energy security, which remains at the top of Belize’s energy agenda. Belize’s
National Energy Policy 2023 – 2040 outlines the need to increase indigenous energy sources
within the energy supply mix as a critical step to reducing costs, diversifying the energy
supply with a focus on renewable energy, decreasing the demand for foreign currency,
developing new infrastructure, and creating employment opportunities (Ministry of Public
Utilities, Energy, Logistics, and E-Governance (MPUELE), 2023).

» Figure 4. Energy Import as Share of Total Primary Energy Supply, 2014 – 2023

2.2.3 RENEWABLE ENERGY SHARE OF TOTAL PRIMARY ENERGY SUPPLY

This indicator highlights the contribution of renewable energy sources to total primary
energy supply, with renewables including primary energy equivalents of hydro and solar,
as well as energy derived from solid biofuels like Bagasse (vegetal waste: sugarcane) and
firewood. In 2023, renewable energy sources comprised only 29.9% (5,306.5 TJ) of total
primary energy supply, exhibiting a downturn of 6.1 percent (Figure 5). If we examine the
trend over time, renewable energy sources in 2023 experienced a slight decline compared
to previous years, where they had remained constant. This decline resulted from reduced
domestic generation from hydro and biomass during the reporting period.

With a heightened focus on energy security, many governments, including Belize, are
promoting renewable energy, recognizing the opportunities a renewable-based economy
and society can offer.

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As wind and solar technologies advance rapidly, both in terms of technology and cost,
Belize can tap into its unused renewable energy potential to replace fossil fuels in its energy
mix. According to the Renewables 2022 Global Status Report (2022), countries with higher
shares of renewables in their total energy consumption enjoy a greater level of energy
independence and security.

» Figure 5. Renewable Energy Share of Total Primary Energy Supply, 2014-2023

2.2.4 PERCENTAGE OF RENEWABLE ENERGY IN ELECTRICITY MIX

The need to shift our energy systems away from fossil fuels to low carbon energy sources,
supports decarbonization and improves resilience. Assessing the percentage of renewable
energy in a nation’s electricity mix evaluates the progress of the energy system towards
sustainability and its role in advancing the reduction of greenhouse gas emissions. Belize’s
electricity mix encompasses renewable energy sources such as hydro, biofuel (bagasse),
and solar PV.

Belize’s Nationally Determined Contributions (NDCs) call for a renewable energy target of
“75% of gross generation coming from renewable energy sources by 2030” (Government
of Belize, 2021). As of 2023, electricity generation from renewable sources experienced
a notable decline, dropping from 52.9% in 2022 to 38.0% (Figure 6). Several factors
likely contributed to this decline, including unfavourable climatic conditions, particularly
precipitation patterns, which affected agricultural productivity and, consequently, renewable
energy generation. This, in turn, reduced the renewable share in the electricity mix. Notably,
while hydro and biomass production declined, solar PV saw a marginal increase.

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As depicted in Figure 6, the sharp decline in 2023 and the trend over recent years underscores
the difficulties in sustaining a consistent level of renewable energy in the national electricity
mix. This highlights the importance of having a localized and diversified renewable energy
portfolio to mitigate such fluctuations. Additionally, it emphasizes the need for infrastructure
development and investment in renewable energy projects to make meaningful strides
towards Belize’s energy transition.

» Figure 6. Renewable Energy Share in the Electricity Mix, 2014-2023

2.2.5 RENEWABLE ENERGY GENERATING CAPACITY

In alignment with SDG indicator 7.b.1/12.a.1, this measure tracks the installation of renewable
energy generating capacity in developing countries, expressed in watts per capita. In 2023,
Belize installed 201.4 watts per capita of renewable energy generating capacity (Figure 7).
Notably, this figure is well below the 2022 average of 293 watts per capita for developing
countries, as reported in the Tracking SDG 7: The Energy Progress Report (International
Energy Agency; International Renewable Energy Agency; United Nations Statistics Division;
World Bank; & World Health Organization, 2024).

Over the past five years, the rate of renewable energy generating capacity in Belize has
remained relatively stable, with capacity increasing from 198.1 watts per capita in 2019 to
201.4 watts per capita in 2023 (Figure 7).

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This steady trend indicates that although investments in renewable infrastructure have
continued, the rate of growth has remained modest. This may be due to factors such as
regulatory challenges, financial limitations, and some limitations in data coverage related to
DG installations across Belize.

In general, the trend underscores the urgent need for greater support and investment to
scale up renewable energy generation, both to meet Belize’s growing energy demands
and to advance its national sustainability goals. The introduction of electricity regulatory
reforms, including new license classifications and rate schedules, represents a strategic
response to accelerate renewable energy growth in Belize.

» Figure 7. Renewable Energy Generating Capacity, 2019-2023

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3 ENERGY SUPPLY AND FINAL CONSUMPTION

3.1 TOTAL ENERGY SUPPLY                                    
Figure 8 provides a clear and high-level overview of Belize’s energy landscape, highlighting
the balance between indigenous production and external energy sources. In 2023, Belize’s
total primary energy supply (TES) was 17,724.8 TJ, representing a decrease of less than
1% from the previous year. Of the total energy supply in 2023, 30% was produced from
renewable energy sources, totalling 5,306.5 TJ. Renewable energy supply decreased by
1,118.5 TJ, representing a significant decline of 17.4% compared to the previous year. This
reduction contrasts sharply with the increase in energy imports, which rose by 1,081.7 TJ,
a 9.4% increase from the previous year. The simultaneous drop in renewable energy supply
and rise in energy imports, underscores Belize’s dependency on external energy sources to
meet its needs and signifies a key area for energy policy focus and implementation.

» Figure 8. Total Primary Energy Supply, 2023

While overall total primary energy supply continues to grow to meet demand, driven by the
significant rebound of economic activities following the COVID-19 pandemic, it has remained
relatively stable over the last two years (Figure 9). Still, Belize’s population and GDP are
projected to rise over the coming years with expected impacts on energy demand and fuel
usage. This anticipated growth requires key consideration of Belize’s energy supply mix
and the implementation of energy intensity reduction initiatives (Ministry of Public Utilities,
Energy, Logistics, and E-Governance (MPUELE), 2023).

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 » Figure 9. Historical Timeline of Total Primary Energy Supply, 2019 – 2023

Following the trend of previous years, energy trade data in 2023 reveals a striking dependency
on imports, which accounted for 99.5% of total energy trade, equating to 12,551.7 TJ (Figure
10). This underscores the limited contribution of domestic energy exports in the energy trade
balance and highlights the challenges in achieving energy self-sufficiency. These findings
emphasize the need for strategic planning to diversify Belize’s energy sources and enhance
domestic production capabilities.

» Figure 10. Overview of Energy Trade Data, 2023

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3.3 PRIMARY ENERGY                                    

3.3.1 PRIMARY ENERGY SUPPLY BY FUEL TYPE

Belize sources much of its primary energy from renewable sources, amounting to 84.8% of
the total primary energy supply by fuel type (Figure 11). Bagasse, a by-product of a major
agricultural industry, is by far the largest renewable energy source, contributing 64.5% of
the total, followed by hydro at 10.2%. With firewood used for heating and cooking equating
to a share of 9.8%, biomass comprises 74.3% of Belize’s renewable primary energy share.
Solar energy, by contrast, represents only 0.4% of the total renewable primary energy
supply. On the other hand, fossil fuel sources, including crude oil and natural gas, account
for 14.7% and 0.5%, respectively. Overall, Belize’s primary energy supply composition
showcases its efforts in domestic renewable energy production, particularly biomass, while
also highlighting the relatively minor role of solar energy and the limited but still significant
presence of fossil fuels in the energy mix.

» Figure 11. Belize Primary Energy Supply by Source, 2023

3.3.2 CRUDE OIL AND NATURAL GAS PRODUCTION

In 2005, Belize Natural Energy Limited (BNE) made the first commercial oil discovery in
the Spanish Lookout community in Belize, which is currently producing an average of 425
barrels of oil per day. In 2009, a second commercial discovery was made in the Never Delay
area in Belize, with current production averaging 7 barrels of oil per day. According to the
Geology and Petroleum Department of Belize (2022), oil produced in Belize is sold locally,
exported to the US Gulf Coast, and transported overland to Guatemala.

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According to Figure 12, Belize’s production of crude oil and natural gas reveals a clear
downward trend, with output steadily declining each year. The only exception was a spike
in natural gas production in 2022, which then returned to consistent levels in 2023. This
consistent decrease over time highlights the challenges being faced, whether due to
resource depletion, operational constraints, shifting market dynamics, or a combination
of these factors.

» Figure 12. Historical Timeline of Fossil Fuel Production, 2019 – 2023

3.4 SECONDARY ENERGY                                    

3.4.1 SECONDARY ENERGY SUPPLY BY FUEL TYPE

Belize’s secondary energy supply, which includes energy products derived from primary
energy sources through transformation processes such as fuel refining or electricity
generation, showed a notable increase in 2023, rising by 1,081.7 TJ or 9.4%. Unlike Belize’s
primary energy sources, its secondary energy supply comprises petroleum products and
electricity.

In 2023, secondary energy supply was predominantly driven by petroleum products,

which accounted for 87.6% of the total (Figure 13). Among these, gasoline was the largest
contributor at 29.4%, followed closely by diesel at 26.5%, LPG at 11.1%, jet fuel kerosene
at 9.7%, fuel oil at 3%, and aviation gasoline at 0.1%. The remaining 12.4% of secondary
energy came from imported electricity provided by CFE Mexico, highlighting Belize’s
continued dependence on external energy sources to meet energy needs.

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» Figure 13. Secondary Energy Supply, by Fuel Type – 2023

3.4.2 IMPORTS OF PETROLEUM AND GAS PRODUCTS

The use of petroleum products plays a critical role in driving Belize’s socio-economic
progress, as these products are essential for transportation, agriculture, commercial, and
industrial sectors. As highlighted in section 3.2, the nation’s demand for these resources is
largely met through energy imports.

Over the past five years, the supply of petroleum products in Belize has experienced
significant fluctuations across various categories (Figure 14)3. Regular gasoline has shown
a notable upward trend, rising from 21.9 million gallons in 2019 to 26.4 million gallons in
2023. In contrast, the supply of premium gasoline has drastically declined, possibly indicating
a shift in consumer preference toward more cost-effective fuel options or changes in fuel
consumption patterns. The supply of diesel has remained relatively stable over the timeline,
whilst the supply of kerosene has seen significant growth in recent years. Additionally, the
supply of fuel oils used for electricity generation has been highly volatile.

The supply of aviation fuels in Belize remains relatively small in scale compared to the
overall supply of petroleum products. However, jet fuel kerosene has shown a significant
upward trend, increasing from 1.4 million gallons in 2019 to 8.6 million gallons in 2023,
reflecting both the recovery and growth in the aviation sector in Belize.

3 For more detailed information on imports of petroleum products, see Appendix B: Data Table 8.

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 » Figure 14. Volume of Petroleum Products Imported in 2023

3.5 FINAL CONSUMPTION                                    

Final Energy Consumption is the portion of the energy flow that details the way energy
is being harnessed by those who utilize it for their own productive uses, that is, not for
reselling or distribution. This includes, for example, the electricity being used to power office
appliances, the gasoline bought to operate a lawnmower, or the firewood used to cook a
meal. As a broad and detailed sector, final energy consumption is crucial for understanding
energy use patterns and addressing the mitigation and adaptation needs for sustainable
and ecologically healthy development of our country. Collecting and analysing data within
this sector presents a significant challenge, which the Energy Unit continues to tackle while
exploring ways to optimize the resources at our disposal.

3.5.1 TOTAL FINAL CONSUMPTION, BY FUEL TYPE

For 2023, Belize’s final energy consumption totalled 12,826 TJ – an increase of nearly 3%
from the previous year. Figure 15 below shows the breakdown of this 12,826 TJ into its
component fuels. Gasoline and diesel being used for transportation purposes dominate
Belize’s final consumption, followed closely by electricity. To reduce the country’s reliance
on energy imports and lower global carbon emissions, it is crucial to explore ways for
homes and businesses to decrease their consumption of these increasingly expensive and
market-volatile commodities4.

4 See Chapter 5: Energy Prices for local and international pricing trends.

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2023 | The Belize Energy Report

» Figure 15. Final Energy Consumption for 2023, Disaggregated by Fuel Type

3.5.2 TOTAL FINAL CONSUMPTION, BY SECTOR

Figure 165,6 shows a different breakdown of the same 12,826 TJ of final energy consumption
by specific usage sectors. The largest sector, Transport, is nearly twice as the large as
the second-largest sector, Residential. This aligns with the predominance of gasoline
and diesel shown in the previous figure. Although limitations in data coverage prevent
us from making definitive statements about energy allocations within the Manufacturing,
Agriculture and Commercial sectors, the Energy Unit believes that the overall picture
accurately reflects reality. Thus, the Transport, Residential, and Commercial sectors
should be the primary focus for energy efficiency and conservation efforts.

5
The consumption sector named ‘Manufacturing, Construction, Non-fuel Mining Industries’ follows the IRES classification and includes
the further classifications: ‘Non-metallic minerals’, ‘Machinery’, ‘Mining and quarrying’, ‘Food and tobacco’, ‘Paper pulp and print’, ‘Wood
and wood products’, ‘Construction’, and ‘Not elsewhere specified.’

6
The consumption sector named ‘Transport’ follows the IRES classification and includes further classifications: ‘Road’, ‘Domestic Aviation’,
‘Domestic Marine Navigation’ and ‘Not elsewhere specified.’

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» Figure 16. Final Energy Consumption for 2023, Disaggregated by Consumption Sectors

3.5.3 GROSS ELECTRICITY CONSUMPTION, BY SECTOR

Focusing on final energy consumption in the electricity sector, Figure 17 below shows
the historical changes in consumption sectors over the past 10 years. It reflects electricity
consumption within BEL’s national grid and is based on BEL’s customer tariff groupings,
with the ‘Social’ tariff group aggregated into the ‘Residential’ category. It is interesting to
note that the Commercial sector, more so than the Residential sector, has experienced a
significant increase in electrical demand over the past 2-3 years, possibly due to a rebound
from COVID-19 economic slump. Given that demand is expected to rise with increases
in ambient temperatures (Ministry of Sustainable Development, Climate Change, and
Disaster Risk Management, 2021) and population growth, mitigating electrical consumption
will become increasingly crucial, especially in the commercial sector.

It is also important to note electricity consumption occurring outside the jurisdiction of

BEL’s grid. The Spanish Lookout’s Farmers’ Light Plant Corporation, which maintains
and supplies its own community microgrid, reports that it sold 5.9 GWh to residential
customers and 14 GWh to commercial customers. Additionally, this report does not cover
data from other community microgrids or any off-grid consumption, such as distributed
generation.

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2023 | The Belize Energy Report

» Figure 17. Electricity Consumption Timeline Across Sectors for National Utility

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 2023 | The Belize Energy Report

4 ELECTRICITY SECTOR
4.1 ELECTRICITY PURCHASE AND SALES                                    
As the national utility company, Belize Electricity Limited (BEL) is licensed by the Public
Utilities Commission (PUC) to supply and distribute electricity to Belizean consumers. BEL
generates some electricity from power plants they own and operate, but they also buy
electricity from Independent Power Producers (IPPs). Additionally, BEL imports a significant
quantity of electricity from the Comisión Federal de Electricidad (CFE), the Mexican utility
company. They then manage the distribution and sales of this combined electricity supply
to customers connected to their grid through metered connections. In 2023, BEL sold a total
of 659 GWh of electricity to their customers, spread out across its customers, distributed
across different tariff groups (See section 3.5.3 for breakdown). These are their recorded
sales after accounting for Transmission and Distribution losses (see section 4.9 for analysis).

Another company that supplies and distributes electricity at a smaller scale is the Farmer’s
Light Plant Corporation, which caters to the community of Spanish Lookout in the Cayo
District. Farmer’s Light Plant Corporation reports total sales of 19.9 GWh for 2023.

Data is not yet available on sales within recently created rural microgrids such as La Gracia
and Indian Creek.

4.2 INSTALLED ELECTRICITY GENERATION CAPACITY                                    

Figure 18 below depicts the composition of the available electricity sources that feed
Belize’s electricity supply, totalling 189.7 MW. The 55 MW ‘Electricity Imports’ represents
the capacity supplied by our connection to CFE and Mexico. The remaining chart area
represents in-country capacity, most of which is connected to BEL’s national grid; a total of
134.7 MW. The portion labelled ‘Non-RE Thermoelectric’ (41.5 MW) includes generation
sourced from diesel and fuel oil plants, which are connected to BEL’s grid. The Blair Athol
Power Company (BAPCOL) is an Independent Power Producer (IPP) that contributes mainly
to this portion, along with BEL’s own generation plants. The Hydropower and Biomass
portions also feed BEL’s supply. The IPPs Fortis Belize and Hydro Maya contribute to the
Hydro capacity, while Belcogen and Santander Sugar contribute to the Biomass portion.
The smallest portion represents the only Solar PV systems connected to the grid which
are managed by the University of Belize and Paradise Shrimp Farms. Generation systems
owned by FLPC are classified under ‘Off-grid.’

It should be noted here that, as part of the focus on energy access and bringing power
to underserved rural communities, several Solar PV microgrids have been funded and
developed in partnerships with international funding agencies.

42
 These include completed systems that service La Gracia, Indian Creek, Golden Stream,
and Medina Bank villages, with a total combined capacity of 0.4 MW. Additionally, similar
systems are under development to serve Corazon Creek, San Benito Poite, and Jalacte
villages, with an expected total capacity of 0.79 MW. These small systems are not included
in Figure 18 below.

» Figure 18. Belize’s Available Electricity Generation Capacity – Breakdown in Megawatts

(MW)

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 2023 | The Belize Energy Report

4.3 PEAK ELECTRICITY DEMAND                                    

The peak power demand, or peak electricity demand, is a metric that indicates how much
load a system’s supply capacity must be able to meet at a given point in time. It is the
highest demand value achieved within the referenced timeframe and is used to analyse
whether existing power capacity is sufficient. As the US Energy Information Administration
(EIA) states, “Electric power systems must match generation and load in real time, with
tight tolerances,” (U.S. Energy Information Administration (EIA), 2011). Given that the total
generation capacity in 2023 was 189.7 MW, as discussed in the previous section, the 2023
peak demand of 127.2 MW should have been easily met (Figure 19). However, as the graph
clearly shows, with the upward trend in recent years, the country’s capacity must increase
as well to keep pace with growing demand.

» Figure 19. Peak Power Demand for BEL’s Grid: Historical Timeline

4.4 GROSS ELECTRICITY PRODUCTION                                    

In the first analysis of this chapter that references energy instead of power, Figure 20 shows
a steady increase in the quantity of electricity generated by BEL from year to year, closely
mirroring the increasing demand discussed in the previous section. The sudden drop seen
in 2020 can be attributed to the activity slowdowns of the COVID-19 pandemic, a trend also
reflected in global electricity usage patterns (International Energy Agency (IEA), 2020).
The graph shows that the rebound from COVID-19 has not only continued the historical
generation growth but has also begun to accelerate at a slightly faster rate than before the
pandemic, further highlighting the need for future demand planning in Belize.

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 » Figure 20. Historical Timeline of Gross Electricity Generation, 2014-2023

4.5 ELECTRICITY PRODUCTION BY FUEL TYPE                                    

Meeting rising demand is one challenge, but managing the supply mix is another, particularly
considering the need to limit fossil fuel generation and achieve national targets for renewable
energy. In its 2021 Nationally Determined Contribution, Belize committed to “Avoiding 44
KtCO2e in the national electricity supply by 2030 through the introduction of expanded
capacity from renewable energy sources” (Ministry of Sustainable Development, Climate
Change, and Disaster Risk Management, 2022). Figure 21 below shows fluctuations in
fuel composition of the electricity mix over the past five years. If not for our significant
reliance on CFE’s electricity (depicted in black), Belize would have had an almost entirely
‘green’ electricity mix, meaning it would be drawn from renewable sources, represented
by the blue, green, and yellow areas. As it is, CFE’s electricity is largely powered by gas
turbines and coal (Comisión Federal de Electricidad, 2023) and cannot be considered
a renewable source. This is in addition to the sustainability-of-supply issue: CFE must
prioritize its own population during times of high demand, reducing the supply available
to Belize. Interestingly, the chart shows a supplementary relationship between CFE and
in-country renewables. We import more electricity in the years when hydro and biomass
production fall. Therefore, while increasing in-country generation is a key strategy for
building Belize’s energy independence, it is also evident that climate conditions that affect
the productivity of renewables must also be considered.

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» Figure 21. Electricity Generation by Fuel Type: 2019-2023

4.6 ELECTRICITY PRODUCTION BY PLANT TYPE                                    

By excluding CFE, Figure 22 highlights the role of hydropower and biomass (Combined
Heat and Power) in the country’s national grid mix. The variability of the overall in-country
supply is mainly attributed to changes in hydropower production – peaks and dips in one
cause peaks and dips in the other – emphasizing Belize’s vulnerability to rainfall patterns,
droughts, and climate shocks. The proportion of renewables is also sensitive to the
variability in hydropower. It is Notably that the non-renewables (shown in black) have larger
representation in years when hydropower is reduced. It is clear, then, that while increasing
our clean energy portfolio is our stated goal (Ministry of Sustainable Development, Climate
Change, and Disaster Risk Management, 2022), diversity within the renewable sector is
also crucial for building resilience and reducing impacts that can be attributed to specific
climate disturbances. Belize’s Updated NDC states that “Projected climate change impacts
for Belize include a rise in temperature of between 2°C and 4°C by 2100, a 7-8% decrease
in the length of the rainy season, a 6-8% increase in the length of the dry season and a
20% increase in the intensity of rainfall in very short periods.it is fair to assume that climate
vulnerabilities are a crucial consideration of power sector planning as we move forward”
(Ministry of Sustainable Development, Climate Change, and Disaster Risk Management,
2022). Concurrently, Belize needs careful planning to stabilize the current variability and
address the increasing challenges we are likely to face in the future.

46
 » Figure 22. Electricity Generation by Plant Type: 2019-2023

4.7 SHARE OF ELECTRICITY PRODUCTION BY SOURCE AND FUEL TYPE                                   

Figure 23 highlights the breakdown of electricity supply sources at their most basic
classification. In 2023, electricity imports provided nearly half of our power supply, increasing
by approximately a third from 323 GWh in 2022 and expanding and expanding its share of
the total by about 10%. Conversely, Belize’s renewable electricity decreased its share by
about 15% from 2022. Based on the analysis from sections 4.5 and 4.6, it clear that 2023
was a year in which the productivity of renewables was challenged, with climate conditions
being the most likely cause. The entire Latin American and Caribbean region was strained
by high heat, droughts, wildfires, and other extreme events that were intensified by the 2023
El Niño effect (World Meteorological Organization, 2024). This highlights the challenge of
achieving and maintaining the country’s target of 75% renewable generation (Ministry of
Sustainable Development, Climate Change, and Disaster Risk Management, 2022), even
if met, faces the challenge of stability in the prospect of climate extremes.

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 2023 | The Belize Energy Report

» Figure 23. Share of Electricity Supply Sources by Type, 2023

Figure 24 below depicts the same data ’as in Figure 23, but with the in-country generation
sources now broken down into constituent fuels. This shows us that ‘renewables’ largely
refer to hydropower and bagasse generation, with a small component so far of Solar
PV, and that ‘non-renewables’, on the other hand, consist mostly of diesel and fuel oil
generation. Stability is considered one of the main challenges in transitioning to ‘green’ or
climate-friendly energy (Harvey, 2020). Together with the 50% electricity imports, the non-
renewables in Belize have historically played a key role in stabilizing the variances in supply
caused by renewables. They can be bought on demand – at least for now – which is why
national targets like Belize’s NDC focus more on reducing dependence on fossil fuels and
imports, rather than on fully phasing them out.

» Figure 24. Share of Electricity Supply by Source Fuel, 2023

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The flowchart in Figure 25 below illustrates the processes and transitions of Belize’s
electrical energy, showing the flow from source fuels (on the left) to the electricity consumed
at the economic sector level (on the right). While the other charts have highlighted the
energy proportions by type—such as renewable versus non-renewable or imported
versus exported—this chart highlights the relative amounts of energy in the starting fuels
compared to those that are finally utilized by consumers. That is, it shows how much energy
is lost in transformation and distribution processes. As indicated by the pink portions that
do not extend to the endpoint, more than half of Belize’s starting energy is lost, particularly
in electricity ‘transformation.’ This loss is typical, and largely due to the portion of the
supply mix derived from thermal fuel combustion (including Diesel, Crude, Fuel Oil, and
Bagasse), which has historically had an efficiency rate of 33%, though modern technology
has improved this to 44% (Kirk, 2022). Other losses are attributed to transmission and
distribution processes – a small but pervasive component of national electricity losses7.

» Figure 25. Electricity Flows from Sources to End-Consumption: Sankey Flowchart

7
Note: Both Losses and Sector Consumptions indicated in this chart include both BEL and FLPC figures. No comparable
data is currently available on smaller isolated microgrids or distributed generation.

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4.8 ELECTRICITY EXPORT AND IMPORT                                    

Figure 26 below depicts the changes in total electricity imports to Belize over the past ten
years. This presentation emphasizes the fluctuation and volatility in electricity imports over
the last five years – the causes of which have been discussed earlier in this chapter – in
contrast to the relative stability of the previous five years, during which similar quantities
were imported annually. Whether the pattern of high-import years, beginning in 2019,
will persist remains to be seen. What is clear, however, is that 2023 has had the largest
importation value for the decade – 12% higher than the second-highest value in 2019,
and an 85% increase since 2014, ten years ago. In addition to supply volatility, this rising
trend demonstrates the gravity of our increasing reliance on Mexico’s electric grid and the
pressing need for its mitigation.

As of 2023, Belize is not exporting any electricity across its borders.

» Figure 26. Electricity Imports to the National Grid: Historical Timeline

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 4.9 ELECTRICITY LOSSES                                    

Figure 27 details the historical progression in Transmission and Distribution (T&D) losses
for Belize Electricity Limited in particular. T&D losses are an amalgamation of technical
losses - such as line and transformer losses - and non-technical losses caused by meter
errors or unmetered consumption. These losses not only represent power wastage and
unnecessary emissions, but also unbenefited costs to the producers (Jiménez, Serebrisky,
& Mercado, 2014, p. 39) and ultimately, the consumers. Though constrained to a certain
extent by systemic and physical laws (Shenzhen CLOU Electronics Co., 2022), T & D
losses can be partially mitigated by infrastructure updates and maintenance. Figure 27 also
shows the NDC target for T & D efficiency that Belize is committed to achieving by 2030.
The trend shows only the slightest variances over the past decade, with 2023 being the
second-highest year for losses. There is a need for a national strategy to assess potential
loss reductions and maintain the loss rate at a realistic minimum.

» Figure 27. Transmission & Distribution Losses for BEL’s National Grid, 2014-2023

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5 E N ERGY PRI CES

5.1 CRUDE OIL PRICES                                    
The declining production of crude oil is the only energy source currently being exported
by Belize. Figure 28 shows the average price at which Belize’s crude has been sold
internationally over the past five years, compared to the average prices in the international
crude market, known as Brent Crude, over the same period. Clearly, Belize has been able to
sell crude at a price that roughly but consistently imitates those at the global scale. According
to the IEA, there was a surplus of global crude production, especially from the US, Brazil,
Guyana, and Iran. This forced the global price to fall somewhat for 2023 (International
Energy Agency (IEA), 2023). Despite relatively high prices for two of the past five years, the
Statistical Institute of Belize (2024) reports that total crude export revenues have declined
by half since 2022, which reflects the decreasing volumes of crude being exported. It is
therefore arguable that the impact of market fluctuations on Belize will continue to diminish
unless plans are developed and implemented to revitalize crude production. Environmental
and policy challenges have historically made expansion of this sector generally difficult to
support, partly by design, as Belize’s policies continue to push toward the energy transition
(Manzano M. & Vernon, 2018).

» Figure 28. Crude Oil Prices – Local Vs. International: 2019-2023

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 5.2 PETROLEUM PRODUCTS PRICE                                    
The refined petroleum products commonly used in Belize, all of which are imported, include
motor gasoline (Premium and Regular), diesel, kerosene, and liquified petroleum gas. While
fuel oils, lubricants, and aviation fuels are also imported for specific sectors, this chapter
will focus on the pricing and trends of fuels commonly used by the general Belizean public.

5.2.1 AVERAGE PUMP PRICE FOR REFINED PETROLEUM FUELS

Figure 29 summarizes fuel prices typically found at gas stations by averaging pump prices
throughout 2023 and arranging them in descending order. Although Premium gasoline is
usually the most expensive, it is also the least imported fuel by volume, with only about
one-twentieth of the quantity of Regular gasoline imported in 2023. Of interest to most
Belizeans is that the average price of Regular gasoline decreased by about 4.5% from
2022. Unsurprisingly, Regular gasoline remains the most imported fuel by volume, followed
by diesel. Diesel’s average price has decreased by a stunning 22% compared to 2022.
Kerosene averaged the same price as diesel in 2023, but its price decreased by 9.5%
compared to last year. While these figures may challenge the joke that prices only ever go
up, they bring welcome relief to our wallets—at least for 2023.

» Figure 29. Comparative Prices for Imported Refined Fuels: 2023 Average Prices

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Figure 30 illustrates the historical trend in Premium gasoline prices over the past four
years, comparing these trends with those in other Central American countries for years in
which data was available. It is evident that, like Belize, neighbouring countries experienced
continuous price increases from 2020 to 2022. Whether they also saw a decrease in 2023,
as Belize did, will be confirmed when updated data becomes available. However, it is clear
that prices in Belize have consistently been higher—by about 30% during the earlier part of
the trend, and even more in 2022. The Energy Unit at present does not employ economic
experts, so a definitive analysis is beyond our scope. However, it is worth noting that many
Central American governments use fuel subsidies to make prices more affordable for their
populations (Marchán, Espinasa, & Yépez-García, 2017; Wirtz, 2024).

» Figure 30. Regional Prices for Premium Gasoline: 2020-2023

Similarly, Figure 31 illustrates the historical trend for Regular gasoline, comparing Belize’s
changes with those with that of other Central American nations. The trend shows comparable
movements – recent rises across the board from 2020-2022, with a decrease for Belize
in 2023 and consistently higher prices in Belize compared to its neighbours. The main
difference is that Regular gasoline prices are slightly lower than Premium across the board.
It is interesting to speculate whether a larger portion of the public in neighbouring countries
can afford Premium gasoline more easily than many Belizeans, possibly due to government
subsidies. To broaden the picture of regional comparisons, it is worth noting that in the
Organisation of Eastern Caribbean States8, a gallon9 of gasoline averaged EC$15.82 in
2023, or about BZ$11.71 (Eastern Caribbean Central Bank, 2024; Forbes Advisor, 2024).

8
Note: The Organisation of Eastern Caribbean States (OECS) integration region includes the nation states of
Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines,
plus the following overseas territories: Anguilla, The British Virgin Islands, Martinique, Guadeloupe, Montserrat.

The Eastern Caribbean Central Bank reports in Imperial Gallons, which are about 15% volumetrically smaller than the US
9

Gallons used in Belize and Central America. (Eastern Caribbean Central Bank, 2024)
54
 » Figure 31. Regional Prices for Regular Gasoline: 2020-2023

We conclude our pump price analysis with Figure 32. Diesel differs from the other fuels in
this lineup in that it is consistently cheaper over time and across regions, and it experienced
the greatest price drop—at least in Belize. As noted before, future data analyses will reveal
whether other regions experienced the same price decreases as Belize in 2023. In the
Eastern Caribbean, the average price for a gallon of diesel in 2023 was EC$15.93 (Eastern
Caribbean Central Bank, 2024) or BZ$11.79 (Forbes Advisor, 2024), which is costlier than in
Belize but not comparable to Central American countries at this time. While the Energy Unit
continues to work to provide relevant and timely statisitics and plans to develop historical
trends for regional comparisons, it is notable that all three pump fuels have demonstrated
contiguous price increases across Central America in the years for which data is available.
This supports the view that Belize’s prices align with international trends.

» Figure 32. Regional Prices for Diesel: 2020-2023

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5.2.2 ANNUAL AVERAGE PRICE FOR LIQUIFIED PETROLEUM GAS (LPG)

Moving from pump fuels to LPG, Figure 33 shows historical changes in the average price
for LPG in Belize over the past three years, along with regional average prices from 2020
to 2022 Belize’s average LPG price has decreased notably since last year, falling by 15%,
bringing it closer to the 2021 value of $1.23 per pound compared to 2023’s $1.42. Central
American companies have also experienced price increases in recent years; however, in
2022, Belize was once again at the top of the price scale. Interestingly, while Belize currently
does not share established government fuel subsidies with its neighbours, LPG prices are
regulated by the Supplies Control Unit within the Ministry of Agriculture. This should be
considered when assessing the comparability of regional prices.

In the OECS countries, the price of LPG in 2023 was stated as EC$38.69 for a 20-lb tank
and EC$202.31 for a 100-lb tank. (Eastern Caribbean Central Bank, 2024). This converts
to BZ$28.63 and BZ$179.72, respectively (Forbes Advisor, 2024). For comparison, based
on the 2023 average LPG price, a Belizean would pay BZ$24.20 for a 20-lb tank and
BZ$121.00 for a 100-lb tank. Generally, LPG prices are more regionally competitive for
Belizeans compared to other refined fuels.

» Figure 33. Regional Prices for Liquified Petroleum Gas (LPG): 2020-2023

In the first section of this chapter, the analysis of global crude prices showed that prices
peaked in 2022 over the past five years. As the source fuel for all other refined fuels, this
can influence their market prices downstream and may explain why 2022 saw peak prices
for all refined fuels analysed in this section.

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 5.3 MEAN ELECTRICITY RATE                                    
The mean electricity rate (MER) is a metric published by BEL that combines all the
customer tariffs and incorporates their relative contributions. It can be treated as a proxy
for the average electricity rate paid by Belizeans. Figure 34 illustrates changes in the MER
over the past ten years. These changes have been gradual, with no significant peaks
or sudden dips, indicating that electricity prices in Belize have remained mostly stable.
However, consumers will note that while the most recent price highs in 2019 and 2020 have
decreased, any return to the lower 2016-2017 prices will take longer. Even the significant
volatility of supply that was seen in 2019, partly stemming from the need to import large
amounts of power from Mexico, and which can drive the MER upward, did not surpass the
decade’s maximum of $0.448 in 2014.

» Figure 34. Mean Electricity Rate for Belize Electricity Limited (BEL): 2014-2023

The data from the chart above has been supplemented with comparable prices from
across Central America, as shown in Figure 35 below, for the years where data is currently
available. In the most recent comparable year, 2022, the MER was lowest in Costa Rica—a
country with a high penetration of renewables (International Energy Agency (IEA), 2022),
—and highest in Honduras—also a country with a notable share of renewables and very
few electricity imports (International Energy Agency (IEA), 2021). To understand the factors
that might cause the MER—an indicator of the nation’s cost of energy—to decrease, a
deeper analysis is needed, as it cannot be attributed solely to the generation mix.

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» Figure 35. Regional Comparison of Mean Electricity Rates: 2014-2023

5.4 AVERAGE COST OF POWER                                    

5.4.1 AVERAGE COST OF POWER

The average cost of power metric is an amalgam of costs paid by the national utility for
electricity, either bought from IPPs for redistribution or produced at its own expense for
distribution. Figure 36 shows the trend in BEL’s average cost of power for the past four
years, presented in BZD$/kWh. It can be roughly stated that for every kWh that the consumer
buys (at an average of $0.402, according to the 2023 MER), BEL has paid an average of
$0.255 to produce (in 2023). Of course, the remainder of this cost must be apportioned to
BEL’s other expenses, such as building and maintenance of transmission and distribution
infrastructure, damages from natural events such as lighting, storms, and fires, employee
salaries and other operational costs. Figure 36 shows that the average cost of power has
been slowly increasing each year. Based on this trend, it seems incumbent to expect the
MER to increase gradually as well; however, the MER trend over the past four years does
not reflect this growth. Part of the reason for this is that electricity prices are regulated by
the PUC.

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 » Figure 36. Cost of Power for Belize Electricity Limited (BEL): 2020-2023

5.4.2 AVERAGE COST OF POWER BY TECHNOLOGY TYPES

When we disaggregate the average cost of power by type of electric generation and
consider an average for each type, we get a chart like the one below in Figure 37. This
allows us to compare the historical relative costs for the different technologies and sources
that have contributed to the national grid mix, and therefore to the overall cost of power. It is
immediately obvious that non-renewable thermals are simultaneously the most expensive
and the most price-volatile contributors to the mix. However, a comparison with Figure 39
above shows that non-renewable in-country thermals represent the smallest share in terms
of quantity and thus have little effect on the overall cost of power. Conversely the line that
most closely resembles the average cost of power line is that for imports, which consistently
represents the single largest quantitative share of the mix and therefore has the greatest
influence on its trend.

Based solely on Figure 37, one might conclude that Belize’s cost of power could be reduced
by switching to larger shares of renewables (or imports, though imports come with their own
set of challenges). However, a more comprehensive analysis of the economics of energy
systems shows that while thermal plants have higher operational costs—primarily due to
the continuous purchase of fuel—renewables are more expensive to build and install, due to
the capital costs of the technology (Tobin, 2015). Therefore, each country’s energy system
needs careful consideration to balance sustainability, independence, up-front costs, and
emissions.

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» Figure 37. Cost of Power for Belize Electricity Limited (BEL): 2020-2023

5.5 ELECTRICITY END-USER TARIFF                                   

Table #2 contains a summary of the customer tariffs and rates that were in effect in 2023.
Each ‘minimum charge’ listed is charged monthly. The ‘Social Tariff’ is reserved for customers
with very ’low or intermittent usage, while most households fall under the ‘Residential Tariff..
‘Commercial Tariffs’ 1 & 2 cater to most businesses, manufacturers, and agri-productive
enterprises at different scales. The ‘Industrial Tariff’ is a special high-voltage connection
created especially for customers with very high consumption, typically fewer than thirty in
total. The ‘Street Lights’ tariff is charged to one —the Government of Belize—meaning this
cost is covered by taxpayers.

The tariffs are established in the following procedure: first, BEL submits a proposed tariff
scheme to the PUC, along with a cost analysis to justify it. The PUC then assesses the
proposal and either approves it or requests changes. BEL may accept the decision or contest
it, with the latter potentially lengthening the approval process. If both parties are unable to
reach an agreement, the issue may escalate to a court case, based on an interpretation of
the laws governing BEL and the PUC—namely, the Electricity Act and the PUC Act, both
accessible on the PUC’s website.

Once a tariff scheme is approved, it goes into effect provisionally for four years. However,
BEL and the PUC conduct a review every six months, allowing for adjustments to the scheme
in response to market conditions or cost changes. In the current tariff cycle (2020–2024),
a new tariff scheme will be proposed in 2024, and once accepted, it will be in effect for the
next four years. All of BEL’s submissions and the PUC’s responses are publicly available on
the PUC’s website, and the active tariffs can be viewed on BEL’s website.

60
 » Table 2. Belize Electricity Limited (BEL) Customer Tariff Groups and Rates, 2023

Tariff Rates
Social Rate
Block KWhrs Rate ($BZD/kWh)
1 0-60 $0.22)
Minimum Charge $5.00)
Residential Rates
Block KWhrs Rate ($BZD/kWh)
1 0-50 $0.33)
2 51-200 $0.38)
3 Above 200 $0.43)
Minimum Charge $10.00)
Commercial 1 Rates
(Commercial customers with average consumption less than 2,500 kWh)
Block KWhrs Rate ($BZD/kWh)
1 0-50 $0.33)
2 51-200 $0.38)
3 Above 200 $0.43)
Minimum Charge $10.00)

Commercial 2 Rates
(Commercial customers who are not classified as Commercial 1 or Industrial)

Block KWhrs Rate ($BZD/kWh)

1 0-10,000 $0.41)
2 10,001-20,000 $0.39)
3 Above 20,000 $0.38)
Minimum Charge $150.00)
Industrial 1 Rates
Rate ($BZD/kWh)
Demand (KVA) ($ 35.82)
Energy (per kWH) ($ 0.30)
Service Charge ($ 250.00)
Industrial 2 Rates
Rate ($BZD/kWh)
Demand (KVA) ($ 23.00)
Energy (per kWH) ($ 0.26)
Service Charge ($ 250.00)
Streetlights
KWhrs Rate ($BZD/kWh)
1 $0.45)

Information taken from: https://www.bel.com.bz/Rate_Schedule.aspx

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6 ENVIRONMENT AND CLIMATE PROTECTION

6.1 ENERGY SUSTAINABILITY GOALS                                   

As Belize continues to develop its energy sector, a critical focus is advancing energy
sustainability and accelerating the decarbonization of the energy sector. The need for
action has become increasingly urgent due to the significant risks and impacts of climate
change, already being experienced worldwide, especially in vulnerable regions such as the
Caribbean. Belize and other Caribbean nations are experiencing the severe consequences
of climate change firsthand: more intense and frequent hurricanes, rising land and ocean
temperatures, higher sea levels, and shifting weather patterns that are affecting energy
production and threatening food security and economic stability (Intergovernmental Panel
on Climate Change (IPCC), 2022).

The energy transition is closely linked to sustainable development; thus, the decarbonizing
the energy sector should be viewed not only as an environmental necessity but also
as a socio-economic one. According to the World Energy Transitions Outlook (2022),
governments must address the challenging issues of affordability, energy security, and
resilience. Nonetheless, transitioning to a low-carbon energy pathway is crucial for nations
to address and mitigate the compounding economic issues that disproportionately impact
ecosystems and vulnerable communities.

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As a government who aims to be responsive, inclusive, and
participatory in sustainability and environmental protection,
Belize is committed to reducing its reliance on fossil fuels
by incorporating more renewable energy into its energy
mix. This goal aligns with the broader objectives of the
Belize National Energy Policy 2023-2040, which envisions
an energy future that stimulates social and economic
development via the provision of modern energy services
to its citizens. In addition to supporting domestic energy
resilience, these national objectives also align with efforts
to significantly impact energy consumption patterns and
reduce greenhouse gas emissions (Ministry of Public
Utilities, Energy, Logistics, and E-Governance (MPUELE),
2023).

Belize’s pursuit of these sustainability goals is further

reinforced by its engagement with international and
regional initiatives, such as the Paris Agreement, which
aims to reduce greenhouse gas emissions in the fight
against climate change. This approach positions Belize
as a proactive player in the quest for a low-carbon energy
pathway, demonstrating its commitment to delivering a
sustainable, secure, and affordable energy future for all
Belizeans.

6.1.1 SUSTAINABLE DEVELOPMENT GOAL 7

As a small, developing nation, Belize faces typical

challenges in its energy sector, such as its dependency on
imported petroleum products to meet its energy needs and
the need to provide equitable access to modern energy
services for its people. These challenges are closely linked
to international commitments, including Belize’s dedication
to achieving the Sustainable Development Goals (SDGs),
particularly, SDG 7: Affordable and Clean Energy, of the
United Nations 2030 Agenda for Sustainable Development.

SDG 7, which focuses on energy, aims to “ensure access

to affordable, reliable, sustainable, and modern energy for
all” (International Energy Agency; International Renewable
Energy Agency; United Nations Statistics Division; World
Bank; & World Health Organization, 2024). Table 3 offers
an overview of the primary targets under SDG 7.

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By aligning national energy policies with global energy targets, Belize aims to ’enhance
its energy landscape, contributing to improved outcomes in combating climate change,
reducing poverty, and advancing sustainable development. Section 2.2, ‘Energy Indicators,’
summarizes national progress on energy targets to advance SDG 7.

» Table 3. Sustainable Development Goal 7: Targets

Target Target Description

By 2030, ensure universal access to affordable, reliable,
7.1
and modern energy services.
By 2030, increase substantially the share of renewable
7.2
energy in the global energy mix.
7.3 By 2030, double the global rate of improvement in energy efficiency.
By 2030, enhance international cooperation to facilitate access to
clean energy research and technology, including renewable energy,
7.A energy efficiency and advanced and cleaner fossil-fuel technology,
and promote investment in energy infrastructure and clean energy
technology.
By 2030, expand infrastructure and upgrade technology for supplying
modern and sustainable energy services for all in developing countries,
7.B in particular least developed countries, small island developing
States, and land-locked developing countries, in accordance with
their respective programmes of support.

6.1.2 NATIONALLY DETERMINED CONTRIBUTIONS (NDCS)

At the global level, Belize is a signatory to the Paris Agreement, which aims to limit global
temperature rise to well below 2°C above pre-industrial levels. To contribute to this global
effort, Belize has set ambitious targets in its Nationally Determined Contributions (NDCs),
including a significant commitment to reducing emissions from the energy sector. This
includes increasing the adoption of clean energy technologies, enhancing energy efficiency
measures, and expanding the capacity of renewable energy sources.

Belize’s most recent and updated NDC was submitted in September 2021 to the United
Nations Framework Convention on Climate Change (UNFCCC). Table 4 below outlines
energy specific targets and their associated actions under Belize’s NDC (2021), reflecting
its commitment to enhanced climate ambition. The next update of Belize’s NDC is scheduled
for 2025, during which new and/or updated energy-specific targets and actions will be
formulated.

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 » Table 4. Belize’s NDC (2021) Energy Sector Commitments: Targets and Actions

Type Commitment SDG Linkages

Avoid emissions from the power sector equivalent to
Target 19 KtCO2e per year through system and consumption SDG 7, 13
efficiency measures amounting to at least 100 GWh/year by 2030

Reduction in transmission and distribution losses from 12% to 10%

Action by 2030 resulting in reduced electricity demand and better quality SDG 7, 13
of supply

Improve energy efficiency and conservation by at least 10% by 2030

compared to a BAU baseline projection, including through an increase
Action of appliance efficiency in buildings and implementation of building codes, SDG 7, 13
appliance standards and labels and promotion of energy efficient
technology in the tourism sector

Avoid 44 KtCO2e in the national electricity supply by 2030 through the

Target SDG 7, 13
introduction of expanded capacity from renewable energy sources

Achieve 75% gross generation of electricity from renewable energy

Action sources by 2030 through the implementation of hydropower, solar, SDG 7, 13
wind and biomass, including in the tourism sector.

Reduce emissions from high carbon electricity sources including taking

Action 2MW diesel generation offline by 2022 and converting new LPG SDG 7, 13
generation to CNG by 2026.

Action Install 40 MW utility-scale solar power by 2025. SDG 7, 13

Implement an interconnection policy and regulatory framework to

Action SDG 7
facilitate distributed renewable power generation by 2022.

Action Expand the use of biomass, including bagasse, for electricity generation. SDG 2, 7, 13

Explore the feasibility of onshore wind power generation and flexible

Action storage technologies to complement high levels of variable renewable SDG 7, 13
power sources

Avoid 117 KtCO2e/year from the transport sector by 2030 through a 15%
reduction in conventional transportation fuel use and achieve 15%
Target SDG 7, 13
efficiency per passenger- and tonne-kilometre through appropriate
policies and investments

Improve efficiency in the public transit system through the deployment of

Action SDG 7, 11, 13
77 hybrid and electric buses by 2030 (17 by 2025)
65
Implement a policy framework to promote more efficient vehicles and
alternative fuels/blends through incorporation of fuel economy labels;
Action SDG 7, 11, 13
 Avoid 117 KtCO2e/year from the transport sector by 2030 through a 15%
reduction in conventional transportation fuel use and achieve 15%
Target SDG 7, 13
2 0 2 3 | efficiency
T h e B e l per
i z e passenger-
E n e r g y R and
e p o tonne-kilometre
rt through appropriate
policies and investments

Improve efficiency in the public transit system through the deployment of

Action SDG 7, 11, 13
77 hybrid and electric buses by 2030 (17 by 2025)

Implement a policy framework to promote more efficient vehicles and

alternative fuels/blends through incorporation of fuel economy labels;
Action SDG 7, 11, 13
emissions testing; fuel economy standards, limitations and emissions-
based taxes/feebates for imported vehicles by 2025

Facilitate adoption of electric vehicles in the passenger fleet by

Action conducting a feasibility study for EV penetration, including assessment of SDG 7, 11, 13
potential incentives, and investing in EV charging infrastructure

6.1.3 NATIONAL ENERGY POLICY 2023

At the national level, the National Energy Policy 2023-2040 serves as Belize’s strategic
blueprint for advancing its energy sector over the medium to long term. This policy
outlines ambitious targets and goals10, aimed at ensuring energy security, sustainability,
and resilience. Key objectives focus on increasing the share of renewable energy in the
national energy mix, enhancing energy efficiency across all sectors, and expanding access
to modern energy services, all with the goal of reducing of energy-related greenhouse
gas emissions. These key objectives are in alignment with national development
priorities and international climate commitments, such as the Paris Agreement. Table
5 outlines the main targets and goals of the National Energy Policy 2023-2040.

A key conditional variable on the development of these energy sector targets is based on the assumption that all stated
10

policies in the National Energy Policy would have been successfully implemented by 2030.

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 » Table 5. Belize National Energy Policy 2023-2040 Targets and Goals

Goal Description Target

Reduce energy consumption by
Reducing energy intensity
Enhance Energy 10%, with projection to reduce
across all sectors through
Efficiency energy intensity to 0.141
collaboration
toe/USD000s of GDP
Raise the share of
renewables in the energy Renewable energy share in
Increase Renewable
supply mix, to include national energy supply mix
Energy Share
biofuels, as well as more above 60% by 2040.
solar, hydro, and biomass.
Increase renewable energy Increase renewable energy
Increase Renewable
penetration in the electricity penetration to 75%
Energy Share
electricity mix by 2030.

Reduction of energy-
Greenhouse Gas related greenhouse gas Achieve a 30% reduction in
Emissions emissions, in line with NDC GHG emissions by 2030.
commitments.

Expand access to modern Ensure 100% access to reliable

Expand Energy Access energy services, especially and affordable electricity by
in rural areas. 2030.
Reduce energy expenditure to
Decrease the energy
Energy related 15% of GDP by 2030, in
expenditure in relation to
Expenditure comparison to 21% of GDP in
GDP
2021.

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6.2 GHG EMISSIONS FROM THE ENERGY SECTOR                                    

As the foundation of global climate action, governments are tasked with limiting the amount
of greenhouse gas emissions within their national boundaries while fostering economic
stability and growth simultaneously. Given the energy sector’s role as a primary driver
of greenhouse gas emissions, transitioning to renewable and efficient energy systems is
crucial for reducing emissions and, by extension, mitigating the harmful effects of climate
change that are already being felt globally. As Belize continues to develop its energy
infrastructure and policies, understanding the emission profile of the energy sector is
becoming increasingly critical. Fundamentally, this is a result of sustainable energy being
vital for building resilience against climate impacts and for promoting sustainable economic
development.

The most updated energy sector emission profile forms part of Belize’s Fourth National
Communication Report, submitted to the UNFCCC. According to this report (2022),
sequestration from the Agriculture, Forestry, and Other Land Use (AFOLU) sector
continues to help Belize maintain its status as a net emission sink, with the largest source
of greenhouse gas emission coming from the energy sector.

Figure 38 presents the latest emission figures for Belize, showing annual energy sector
GHG emissions over five reference years: 2012, 2015, 2017, 2018, and 201911. As
illustrated, emissions from the energy sector depict a general upward trend between 2012
and 2019, despite the observed temporary reduction in 2018. Emissions spiked in 2019
to the highest value over the reporting period, reaching 845.9 Gg CO2eq, reflecting a
substantial increase compared to previous years. This spike could be attributed to multiple
factors, such as higher energy demand, economic growth, and/or changes in the energy
mix, including more carbon-intensive sources because of climate change impacts on
renewable energy production.

» Figure 38. Total Annual Energy Sector GHG Emissions

Emissions are measured in gigagrams of CO2 equivalent (Gg CO2eq).

11

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Figure 39 presents further information on GHG emissions generated by various energy
sub-sector12 activities in Belize for reference years 2018 and 2019. Overall, there is a
clear upward trend in GHG emissions across most energy sub-sectors from 2018 to
2019. The transport sub-sector being the most significant contributor to this increase
in both years, rising from 460.7 Gg CO2 eq in 2018 to 544.0 Gg CO2 eq in 2019. This
highlights the growing impact of transportation activities on overall GHG emissions in
Belize. Furthermore, the energy industries sub-sector also saw a notable increase in
GHG emissions, with changes in the energy supply mix and demand effects. These trends
underscore the need for continuous efforts to transition the energy sector to more efficient
and greener technologies and strategies to meet climate and sustainable development
targets.

» Figure 39. Annual Energy Sub-Sector GHG Emissions, 2018-2019

The sub-sectors analyzed include Energy Industries (1A1), Transport (1A3), Other Sectors (1A4), and Oil and Natural
12

Gas (1B2).
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6.3 GRID EMISSION FACTOR FOR BELIZE                                    

The grid emission factor (GEF) for Belize represents the amount of GHG emissions (tCO2)
produced per unit of electricity generated (megawatt hour, MWh) and delivered through
the national grid13. In collaboration with the Belize National Climate Change Office and the
UNFCCC, a standardized baseline grid emission factor for Belize’s national power grid was
produced and entered into force on August 24, 2021 (Table 6). The grid emission factor
for Belize was derived using the Clean Development Mechanism (CDM) method/tool14,
ensuring that it adheres to international standards for measuring and reporting emissions.

» Table 6. Grid Emission Factor for Belize

Parameter SI Unit Description Value

Operating margin CO2 emission factor for
EFgrid,OM,y tCO2/MWh 0.49
the BEL
Build margin CO2 emission factor for the
EFgrid,BM,y tCO2/MWh 0.21
BEL
Combined margin CO2 emission factor for
EFgrid,CM,y tCO2/MWh the BEL applicable to the project activities 0.42
of wind and solar power generation
Combined margin CO2 emission factor for
the BEL applicable to all project activities
EFgrid,CM,y tCO2/MWh other than wind and solar power generation 0.35
project activities for the first crediting
period
Combined margin CO2 emission factor for
the BEL applicable to all project activities
EFgrid,CM,y tCO2/MWh other than wind and solar power generation 0.28
project activities for the second and third
crediting period

The grid emission factor for Belize is an important measure for understanding the
environmental impact of electricity consumption, especially in relation to energy access
projects and Belize’s climate change targets. Monitoring and reducing the GEF is paramount
to decarbonizing the energy sector as stipulated in multiple climate commitments for Belize,
both at the national and international levels.

Grid under the ownership and management of Belize Electricity Limited.

13

CDM TOOL07: Tool to determine the emission factor of an electricity system

14

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 2023 | The Belize Energy Report

APPENDICES
APPENDIX A: GLOSSARY OF TERMS                                    
Biomass: Organic non-fossil material of biological origin constituting a renewable energy
source.

Energy: The capacity for doing work as measured by the capability of doing work (potential
energy) or the conversion of this capability to motion (kinetic energy).

Energy Access: A household having reliable and affordable access to both clean cooking
facilities and electricity.

Energy Balance: An accounting framework for compilation and reconciliation of data on

all energy products entering, exiting, and used within a country or area during a reference
period (in this publication, a year).

Energy Efficiency: Refers to the use of technology to reduce the energy needed for a given
purpose or service (a ratio of service provided to energy input). Unlike conservation, which
involves some service reduction, energy efficiency provides energy reductions without
sacrificing service.

Energy Indicators: These are key statistic markers that offer a snapshot of the energy
sector.

Energy Intensity: A ratio of energy consumption to another metric, typically national gross
domestic product in the case of a country’s energy intensity.

Energy Security: The uninterrupted availability of energy sources at an affordable price.

Fossil Fuel: An energy source formed in the Earth’s crust from decayed organic material.
The common fossil fuels are petroleum, coal, and natural gas.

Gross Electricity Production: The sum of the electrical energy production by all generating
units/installations concerned (including pumped storage) in one year, measured at the
output terminals of the generators. (International Recommendations on Energy Statistics,
IRES)

Hydroelectric/Hydro Power: The use of flowing water to produce electrical energy.

Independent Power Producer: A corporation, person, agency, authority, or other legal

entity or instrumentality that owns or operates facilities for the generation of electricity for
use primarily by the public and that is not an electric utility.

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Indigenous Energy Production: Any kind of extraction of energy products from natural
sources within the national territory that results in conversion to a usable form.

Installed Capacity: Sometimes termed peak installed capacity or rated capacity, means
the capacity of the facility (expressed in MW) were it to be operated continually at the
maximum capacity possible without causing damage to it (assuming any source of power
used by it to generate electricity was available to it without interruption).

Mean Electricity Rate: Annual average unit cost of power sold.

Nationally Determined Contributions: These are national climate plans highlighting

climate actions, including climate-related targets, policies, and measures governments aim
to implement in response to climate change and as a contribution to global climate action.

Peak Load Demand: The highest simultaneous demand for electricity satisfied during the
year. Note that the electricity supply at the time of peak demand may include demand satisfied
by imported electricity, or alternatively, the demand may include exports of electricity. (IRES)

Primary Energy: Energy sources as found in their natural state before any transformation
to secondary or tertiary forms of energy.

Refined Petroleum Products: Products obtained from the processing of crude oil (including
lease condensate), natural gas, and other hydrocarbon compounds. Refined petroleum
products include but are not limited to gasolines, kerosene, distillates (including No. 2 fuel
oil), liquefied petroleum gas, asphalt, lubricating oils, diesel fuels, and residual fuels.

Renewable energy resources: Energy resources that are naturally replenishing but flow-
limited. They are virtually inexhaustible in duration but limited in the amount of energy
available per unit of time. Renewable energy resources include biomass, hydro, geothermal,
solar, wind, ocean thermal, wave action, and tidal action. (US EIA Glossary)

Secondary Energy: Refers to the more convenient forms of energy which are transformed
from other primary energy sources through energy conversion processes.

Solar Photovoltaic (PV): These are arrays of cells containing a material that converts solar
radiation into DC electricity.

Total Energy Supply: Is defined as flows representing energy entering the national territory
for the first time, energy removed from the national territory, and stock changes. The entering
flows consist of the production of primary energy products and imports of both primary
and secondary energy products. The flows removing energy from the national territory are
exports of primary and secondary energy products and international bunkers.

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APPENDIX B: DATA TABLES

TABLE 7 - DETAILED ENERGY BALANCE

Oil products Biofuels

Energy Products
Energy Flows
Crude oil Natural gas Hydro Solar2 Wind Electricity4 Heat Total
Motor Gasoline1 Diesel Oil Kerosene Fuel Oil1 Aviation Fuel1 LPG Non-Energy Oil Products Bagasse Firewood3
Indigenous Production 917.3 34.2 - - - - - - - 636.1 23.4 - 3,997.8 611.8 - - 6,220.6
Imports - - 3,687.5 3,320.1 993.8 378.3 1,233.2 1,388.3 NR - - - - 1,550.4 - 12,551.7
Exports -57.9 - - - - - - - - - - - - - - - -57.9
International marine bunkers - - - - - - - - - - - - - - - - 0.0
International aviation bunkers - - - - - - -1,027.1 - - - - - - - - - -1,027.1
Stock changes (+/-) 45.2 - - - - - - - - - - - 37.5 - - - 82.7
Total Energy Supply (TES) 904.7 34.2 3,687.5 3,320.1 993.8 378.3 206.1 1,388.3 0.0 636.1 23.4 0.0 4,035.3 611.8 1,550.4 0.0 17,770.0
Statistical Difference 11.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37.5 0.0 3.2 0.0 52.2
Transfers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Transformation Processes -176.4 0.0 0.0 -529.4 0.0 -378.3 0.0 0.0 0.0 -636.1 -23.4 0.0 -3,997.8 0.0 1,515.3 0.0 -4,226.2
Electricity plants - - - -529.4 - -378.3 - - - -636.1 -23.4 - - - 944.7 - -622.5
CHP plants -176.4 - - - - - - - - - - - -3,997.8 - 570.6 NR -3,603.6
Heat plants - - - - - - - - - - - - - - - - 0.0
Gas works (and other conversion to gases) - - - - - - - - - - - - - - - - 0.0
Natural Gas Blending Plants - - - - - - - - - - - - - - - - 0.0
Charcoal Plants - - - - - - - - - - - - - NR - - 0.0
Other Transformation processes - - - - - - - - - - - - - - - - 0.0
Energy Industry Own Use -21.8 0.0 0.0 -2.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -269.6 0.0 -293.5
Losses 0.0 -34.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -337.7 0.0 -371.9
Total Final Energy Consumption 695.1 0.0 3,687.5 2,788.6 993.8 0.0 206.1 1,388.3 0.0 0.0 0.0 0.0 0.0 611.8 2,455.1 0.0 12,826.3
Manufacturing, Construction, Non-fuel Mining Industries - - - - - - - - - - - - - - 119.8 - 119.8
Non-metallic minerals - - - - - - - - - - - - - - - - 0.0
Machinery - - - - - - - - - - - - - - - - 0.0
Mining and quarrying 15.6 - - - - - - - - - - - - - - - 15.6
Food, beverages, and tobacco 120.0 - - NR - - - NR - - - - - - - - 120.0
Paper, pulp and print NR - - NR - - - NR - - - - - - - - 0.0
Wood and wood products 6.5 - - - - - - - - - - - - - - - 6.5
Construction 83.2 - - - - - - - - - - - - - - - 83.2
Not elsewhere specified 301.6 - - - - - - - - - - - - - - - 301.6
TRANSPORT - - - - - - - - - - - - - - - - 0.0
Road - - 3,687.5 2,788.6 NR - - NR - - - - - - NR - 6,476.1
Domestic Aviation - - - - - - 206.1 - - - - - - - - - 206.1
Domestic Marine Navigation - - NR - - - - - - - - - - - - - 0.0
Not elsewhere specified - - - - - - - - - - - - - - - - 0.0
OTHER - - - - - - - - - - - - - - - - 0.0
Residential - - NR - 993.8 - - 1,388.3 - - - - - 611.8 938.5 - 3,932.5
Commercial and public services 125.9 - - - - - - NR - - - - - - 1,396.7 - 1,522.6
Agriculture/Forestry 42.2 - - NR - - - - - - - - - - - - 42.2
Fishing - - - - - - - - - - - - - - - - 0.0
Not elsewhere specified - - - - - - - - - - - - - - - - 0.0
NON-ENERGY USE - - - - - - - - - - - - - - - - 0.0
in Industry/Transformation/energy - - - - - - - - - - - - - - - - 0.0
of which: feedstocks - - - - - - - - - - - - - - - - 0.0
in transport - - - - - - - - NR - - - - - - - 0.0
in other - - - - - - - - NR - - - - - - - 0.0
Electricity and Heat Output
5
Total Electricity Generated - MWh 17,843.8 0.0 0.0 43,378.4 0.0 36,032.5 0.0 0.0 0.0 176,680.7 6,498.9 0.0 140,651.8 0.0 0.0 0.0 421,086.0
Electric Utility - - - 43,200.8 - - - - - - - - - - - - 43,200.8
Electricity plants (IPPs) - - - - - 36,032.5 - - - 176,680.7 6,498.9 - - - - - 219,212.0
CHP plants (IPPs) 16,864.4 - - - - - - - - - - - 140,651.8 - - - 157,516.2
Electricity Autoproducers 979.4 - - 177.6 - - - - - - - - - - - - 1,157.0

74 75
2023 | The Belize Energy Report

» Table 8. Petroleum Products Importation Figures - 2023

2023 Importation Figures

Petroleum Product Unit Volume
Premium Gasoline US Gallon ( 1,625,887.6)
Regular Gasoline US Gallon ( 26,360,670.4)
Diesel US Gallon ( 22,659,997.1)
Kerosene US Gallon ( 6,988,986.9)
Heavy Fuel Oil US Gallon ( 2,323,440.0)
Light Fuel Oil US Gallon ( 36,227.1)
Aviation Gasoline US Gallon ( 108,000.0)
Jet Fuel Kerosene US Gallon ( 8,572,000.0)
Liquified Petroleum Gas Kilogram ( 31,339,000.0)

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 » Table 9. Installed Electricity Generation Capacity

Installed Capacity 2020 2021 2022 2023

ON-GRID
Producer Type Capacity (MW) Capacity (MW) Capacity (MW) Capacity (MW)
Hydro 54.5 54.65 54.65 54.65
Fortis Belize - Mollejon Hydro 25.2 25.2 25.2 25.2
Fortis Belize - Challilo Hydro 7 7 7 7
Fortis Belize - Vaca Hydro 19 19 19 19
Hydro Maya* Hydro 3.3 3.45 3.45 3.45
Biomass 21.5 21.5 21.5 21.5
BELCOGEN Biomass 13.5 13.5 13.5 13.5
Santander Biomass 8 8 8 8
Solar PV 0.48 1.36 1.33 1.33
JICA (University of Belize) Solar 0.48 0.48 0.45 0.45
Paradise Shrimp Farms Solar 0 0.88 0.88 0.88
Non-RE Thermal 43.6 42.5 42.5 41.5
Blair Athol Power Company Limited* Fossil Fuel 23.6 22.5 22.5 22.5
Gas Turbine (BEL owned) Fossil Fuel 20 20 20 19
OFF-GRID
Producer Type Capacity (MW) Capacity (MW) Capacity (MW) Capacity (MW)
Non-RE Thermal 11.7 11.8 11.9 11.8
Caye Caulker Plant (BEL owned) Fossil Fuel 4 4 4.1 4
Farmers Light Plant Corporation (FLPC)* Fossil Fuel 7.7 7.8 7.8 7.8
Solar PV 0 3.04 3.04 3.91
Farmers Light Plant Corporation (FLPC) Solar 0 3.04 3.04 3.91
ENERGY IMPORTS
Producer Type Capacity (MW) Capacity (MW) Capacity (MW) Capacity (MW)
Imported Electricity from Mexico 55 55 55 55
CFE 55 55 55 55

TOTAL 131.78 134.85 134.92 134.69

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2023 | The Belize Energy Report

» Table 10. Refined Transportation Fuels Prices: Regional Comparison

Central America & the Dominican Republic: National Prices for Refined Fuels
(BZD$/US Gallon)
Product by Country Year
Diesel 2020 2021 2022 2023
Costa Rica $5.96) $6.96) $9.70)
El Salvador $4.52) $6.14) $8.08)
Guatemala $6.50) $5.78) $8.66)
Honduras $5.32) $6.70) $9.08)
Nicaragua $5.52) $6.92) $8.92)
Panamá $4.14) $5.62) $7.64)
República Dominicana $5.26) $7.14) $8.70)
Belize $8.51) $10.22) $12.95) $10.11)

Premium Gasoline 2020 2021 2022 2023

Costa Rica $7.62) $8.52) $10.42)
El Salvador $5.40) $7.30) $8.42)
Guatemala $5.46) $7.16) $9.30)
Honduras $6.64) $8.26) $9.76)
Nicaragua $6.52) $8.32) $10.06)
Panamá $4.88) $6.62) $7.94)
República Dominicana $7.22) $8.82) $10.60)
Belize $10.02) $11.33) $15.25) $13.97)

Regular Gasoline 2020 2021 2022 2023

Costa Rica $7.32) $8.30) $10.18)
El Salvador $5.02) $6.94) $8.14)
Guatemala $5.22) $6.94) $8.96)
Honduras $6.02) $7.66) $8.82)
Nicaragua $6.32) $8.10) $9.84)
Panamá $4.72) $6.42) $7.70)
República Dominicana $6.76) $8.30) $9.92)
Belize $9.01) $10.86) $13.06) $12.44)
Central America refined fuels figures are from ‘Centroamérica y la República
Dominicana: estadísticas de hidrocarburos, 2022’ (pg. 18) by CEPAL. Available at:
https://www.cepal.org/es/publicaciones/69189-centroamerica-la-republica-dominicana-
estadisticas-hidrocarburos-2022

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 » Table 11. LPG Prices: Regional Comparison
Central America and the Dominican Republic: National Prices
for LPG
(In BZD/lbs)
2020 2021 2022 2023
Costa Rica $0.93) $1.18) $1.19)
El Salvador $0.77) $1.03) $0.89)
Guatemala $1.05) $1.25) $1.30)
Honduras $0.77) $0.79) $0.80)
Nicaragua $0.59) $0.86) $0.98)
Panamá $0.35) $0.35) $0.35)
República Dominicana $0.91) $1.13) $1.29)
Belize $1.23) $1.42) $1.21)
Central American LPG figures from ‘Centroamérica y la República Dominicana:
estadísticas de hidrocarburos, 2022’ (pg. 21) by CEPAL. Available at:
https://www.cepal.org/es/publicaciones/69189-centroamerica-la-republica-dominicana-
estadisticas-hidrocarburos-2022

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» Table 12. Mean Electricity Rates: Regional Comparison

Mean Electricity Rate Across Central America and the Dominican Republic
(BZD$/kWh)
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Costa Rica $0.340) $0.322) $0.322) $0.294) $0.306) $0.316) $0.310) $0.262) $0.262)

El Salvador $0.458) $0.382) $0.306) $0.348) $0.380) $0.408) $0.344) $0.362)

Guatemala $0.460) $0.392) $0.372) $0.376) $0.378) $0.386) $0.396) $0.410) $0.448)

Honduras $0.358) $0.258) $0.260) $0.290) $0.306) $0.380) $0.356) $0.366) $0.470)

Nicaragua $0.432) $0.408) $0.382) $0.376) $0.376) $0.386) $0.436) $0.390) $0.392)

Panamá $0.376) $0.410) $0.324) $0.346) $0.354) $0.362) $0.358) $0.326) $0.362)

República Dominicana $0.350) $0.350) $0.360) $0.340) $0.332) $0.312) $0.284) $0.300) $0.352)

Belize $0.448) $0.386) $0.364) $0.375) $0.388) $0.421) $0.422) $0.408) $0.401) $0.402)

Central American data from: Estadísticas del subsector eléctrico de los países del
Sistema de la Integración Centroamericana (SICA), 2022 (pg. 30). Available at:
https://www.cepal.org/es/publicaciones/68763-estadisticas-subsector-electrico-paises-
sistema-la-integracion-centroamericana

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 2023 | The Belize Energy Report

APPENDIX C: METHODOLOGICAL NOTES                                    

The following section clarifies issues related to data quality, coverage, management,
methodological treatments, and other relevant areas to ensure transparency and visibility
for data users. The methodological notes are described below:
Section 2.1 Energy Balance:
Belize’s 2023 energy balance table is presented in both detailed and a simplified version
as recommended by IRES. The degree of detail provided depended on data and resource
availability, as well as the classifications used in context with Belize’s energy landscape.
For a detailed definition of energy products and flows in Belize’s 2023 Energy Balance
Table, please refer to the IRES document (Chapter 3, D. Definition of Energy Products &
Chapter 8, C. Structure of Energy Balance). Note that some prerequisite energy data on
final consumption by sectors in Belize is currently underreported or not available in some
cases.

For biofuels (bagasse), the FORECAST.ETS Excel function was employed for the calculation
of steam production data for Belcogen in 2023, using data from the previous five years (2018
– 2022). The excel function returns a statistical value based on time series forecasting for
steam production.

For biofuels (firewood), 2021 and 2022 firewood estimates were recalculated due to revised
population estimates published by the Statistical Institute of Belize (SIB) following the results
of the 2022 Census. Firewood estimates for 2023 was calculated using “Households by
Major Administrative Area and Main Type of Cooking Fuel” data, taken from the September
Labour Force Survey administered by SIB.

For international bunkers (aviation fuels), its volume is assumed to equate to Total Imports
– (minus) domestic aviation fuel consumption (done separately for aviation gasoline and jet
fuel kerosene).

Section 2.2 Energy Indicators:

For energy intensity, the unit of measure remains as tons of oil equivalent per $1,000 USD
of GDP, as stipulated by the International Energy Agency and the International Atomic
Energy Agency (2005). Annual GDP statistics for 2023 from SIB were unavailable during
the production of this report. Hence, once updated GDP data for 2023 becomes available,
the updated energy intensity parameter for Belize will be calculated and published.

For renewable energy generating capacity (watts per capita), results were recalculated
because of revisions to the generating RE capacity and new population estimates, resulting
in changes to the overall renewable energy generating capacity over the timeline presented.

82
Section 3.3 Primary Energy:
The energy supply represented by Belize’s consumption of fuelwood or firewood for 2023
as well as in earlier annual energy reports, is not quantified by direct measurement or
monitoring. Instead, it is derived from yearly estimates based on population and labour
force survey data published by the Statistical Institute of Belize, with the baseline being
the 2010 national census.

Section 3.5.3 Gross Electricity Consumption by Sectors:

The breakdown of gross electricity consumption by economic sectors is defined by
the customer tariff groupings as stipulated by Belize Electricity Limited. Therefore, its
coverage is limited to national grid-connected customers and does not include microgrid
or mini-grid systems, which are present in Belize. It also excludes coverage of privately
generated electricity and electricity sourced from distributed generation.

It should also be noted that while BEL utilizes five tariff groupings - residential, social,
commercial, industrial, and street lighting. For the purposes of this report, the social and
residential groupings have been aggregated into one category, resulting in four main
groups.

Section 4.2 Installed Electricity Generation Capacity:

Installed electricity Generation Capacity included changes reported from year to year.
The variation reported for UB – JICA Solar and Caye Caulker Plant (CCK) were due to an
error in the data reported by the electric utility.

Section 4.6 Electricity Production by Plant Type:

The data related to electricity production required the classification of independent
power producers to showcase the disaggregation of power plant types in Belize and
their contributions to electricity production. Plants were then classified as: Hydroelectric,
Combined Power and Heat (CHP), Solar PV and Non-Renewable Thermal plants. This
classification may be subject to change upon further review.

Section: 5.2.1 Average Pump Price for Refined Petroleum Fuels:

In contrast to previous Annual Energy Report (AER) editions, the average pump prices for
refined petroleum fuels were calculated using a weighted average method. This involved
multiplying the prices by the number of days for which those prices were effective, then
distributing among the 365 days in a year.

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 2023 | The Belize Energy Report

Previous AER editions used a simple arithmetic mean. The 2023 report also included
recalculated average values for previous years to facilitate year-to-year comparisons.

The historical price trends from Central American countries, were obtained from the Comisión
Económica para América Latina (CEPAL) publication Centroamérica y la República
Dominicana: Estadísticas de Hidrocarburos, 2022 (page 18), which provided figures up to
2022. This publication reported prices in USD per gallon, but it did not specify whether these
were US gallons or Imperial gallons. There was no specification on whether this meant US
Gallons or Imperial Gallons. The 2023 AER analysis treated these figures as US gallons,
aligning with Belize’s practice, under the supposition that like Belize, American technologies
are readily distributed across the continental mainland. The 2023 AER assumes that
“Premium Gasoline” in Belize is comparable to “Gasolina prémium sin plomo” in the CEPAL
publication. The same assumption was made for ‘Regular Gasoline’ and ‘Gasolina regular
sin plomo’. The CEPAL report notes that the stated prices are drawn from urban or capital
city prices, except for Costa Rica, which has a national average cited. In Belize, all prices
reflect national averages.

Section 5.2.2 Annual Average Price for Liquified Petroleum Gas (LPG):
Unlike previous AER editions, national averages for LPG were calculated by a weighted
average method: multiplying the prices by the number of days for which those prices were
effective, then distributing among 365 days in a year. Effective price dates are collated from
the Supplies Control Unit Press Releases found via social media. Previous AER editions
used a simple arithmetic mean, applied quarterly. Comparison between years within the
2023 report was also conducted using recalculated average values for previous years.

The historical price trends from Central American countries were accessed from the
Comisión Económica para América Latina (CEPAL) publication Centroamérica y la República
Dominicana: Estadísticas de Hidrocarburos, 2022 (page 21), with figures available up to
2022. This publication provided prices in USD$ per 25 lbs-tank. For this analysis, a 2:1
conversion factor for BZD to USD was applied, and the converted price was divided by a
factor of 25 to create figures comparable to Belize’s pricing in BZD per pound. The CEPAL
report notes that prices are drawn from urban or capital city prices, except for Costa Rica,
which reports a national average. In Belize, all prices reflect national averages.

Section 5.3 Mean Electricity Rate:

The historical timelines for Mean Electricity Rates (MER) in Central America were taken
from the CEPAL publication Estadísticas del Subsector Eléctrico de los Países del Sistema
de la Integración Centroamericana (SICA), 2022 (page 30), with figures available up to
2022. The dataset includes no 2022 value for El Salvador. The source figures were stated
in $USD per kWh. The 2023 AER assumed a 2:1 conversion factor for $BZD to $USD.

84
APPENDIX D:
MEASUREMENT/CONVERSION UNITS                                    

This section provides a summary of the units used throughout the 2023 Annual Energy
Report, along with their definitions and derivations (Table 12 and 13). Included are some
conversions to the metric system. While Belize has historically used both Imperial and
American units, recent movements towards an internationally recognized standard has
prompted the incorporation of metric-derived systems.

Economics
All dollars and cents that are referenced in this report are in Belize dollars (BZD), unless
stated otherwise. Each Belize dollar is exchanged at a rate of approximately 0.5 to 1 US
dollar. GDP is measured in Belize dollars, while GDP per capita is measured in Belize
dollars per person (BZD/person).
Area
Spatial area, which is used to quantify land and land uses, is measured in km2.
Volume
Instead of the corresponding SI units of cubic metres (m³) or kilolitres (kL) for volume, barrels
(bbl) and US gallons (US Gal) are used for the volumetric measurement of liquid fuels such as
gasoline and diesel. One barrel is equivalent to 159 litres, and one US gallon equals 3.8 litres.
For gaseous fuels, such as natural gas, the measurement unit used is thousand cubic feet (Mcf).

Mass
For most solid fuel masses, the standard SI unit is kilotons (kt) or thousand tonnes (10³ t).
In Belize, the import and retail of gaseous fuels such as Liquefied Petroleum Gas (LPG),
are measured in pounds (lbs), where 1 pound is equivalent to 0.5 kilograms (kg) in SI unit.

Quantities of fuels, regardless of their physical state, may often be expressed in energy
units, as shown below.

Energy/Power
The standard SI unit of energy, the joule, is key to this report, along with its common multiples:
the Terajoule (TJ) and Gigajoule (GJ). Also important is the Watt-hour, which measures
energy in the context of electricity, and its multiples: the Kilowatt-hour (KWh), Megawatt-
hour (MWh) and Gigawatt-hour (GWh). One (1) KWh is equivalent to 0.0036 GJ. Barrels-
of-oil-equivalent (boe) are also used to measure energy, with each boe corresponding to
0.00581 TJ. Similarly, tons-of-oil-equivalent (toe), equivalent to 0.04184 TJ, are used.

Power is measured in Watts and its multiples: Kilowatts, Megawatts, and Gigawatts. Electric
potential, which denotes the charge-carrying capacity of electric power lines, is measured
in kilovolts (kV), an SI unit.
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 2023 | The Belize Energy Report

» Table 13. Multiples of Energy Units

Common Multiple Base Unit Equivalent
Electricity
Kilowatt 1,000 Watts
Megawatt 1,000,000 Watts
Gigawatt 1,000, 000, 000 Watts
Terawatt 1,000, 000, 000, 000 Watts
Energy
Kilowatt-hour 1,000 Watt-hours
Megawatt-hour 1,000,000 Watts-hours
Gigawatt-hour 1,000, 000, 000 Watts-hours
1,000, 000, 000, 000 Watts-
Terawatt-hour
hours
Kilojoule 1,000 Joules
Megajoule 1,000,000 Joules
Gigajoule 1,000,000,000 Joules
Terajoule 1,000,000,000,000 Joules

» Table 14. Conversion Table for Units Used in this Publication

(International Energy Agency (IEA), 2023)

15

(Organización Latinoamericana de Energía (OLADE), 2016)

16

86
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