The company notified the PUC yesterday, that there has been significant increases in the cost of power since May 2018. They are proposing that the mean electricity rates be increased from 39.3 cents per kilowatt hour to 41.5 cents per kilowatt hour from January 1st, 2019 to June 30th, 2019.

The company notes that since May higher prices from Mexico and below average production of the local hydro plans resulted in an increase in the cost of power purchased from suppliers. BEL says that it was able to use its strong financial position to temporarily absorb the 18.9 million dollar increase in costs. They note that as per PUC regulations, BEL is required to recover this increase through a rate adjustment.

The company has also notified the PUC that it is trying to secure more stable prices from Mexico's CFE.

They are also recommending that the PUC launch a Request for Power in electricity generation from competitively priced sources of renewable energy.

They believe that by the end of next year, they can achieve the objective of lowering the electricity rates.