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A press release issued St. Johns, Newfoundland on October 30th says : "Fortis Earns Record $18 million (Canadian dollars) Third Quarter". A look into release shows BEL revenue first 9 months 2002 soaring $53,486,000 (Canadian) $58,417,000 BECOL earnings up $9,596,000 $12,302,000. fact BEL BECOL between them were far away proportionately biggest earners ALL power companies owned Fortis.

Significantly, BEL Mr. Young whimper on about need Belizean consumers pay more, Belize's earnings per kwh remain ridiculously high. A simple comparison between Fortis's earnings energy returned Belize versus earnings energy Martime Power Canadian Niagara Power reveals Belizeans are paying almost three times more than Canadians their power per GWh.. Are Fortis asking price rises Canada to cover their lower earnings their Canadian subsidiaries? answer almost certainly "No", Because utility pricer contros notallow them get away with Canada!

AND NOW BEL & FORTIS FURTHER SHAME BELIZE!

Now, add Belize's ever sliding eco-reputation abroad, one world's top travel writers, Simon Worrall, has just published long comprehensive analysis Mollejon Chalillo London weekend Guardian.

The lengthy article unsparing:in its criticism entitre hydro project: "A proposed dam scheme Belize threatens destroy one world's richest natural habitats. But should project ever have got off ground?".

It stunning exposé not just damage wildlife environment which Chalillo will cause but an accurate account dirty dealing done first promote Mollejon then Chalillo.

Mr. Worrall's credentials are unchallengeable indeed both Prime Minster, Said Musa, finance supremo, Ralph Fonseca, gave him lengthy interviews.

Here small excerpt article: "The proposed Chalillo dam compounds magnifies problems marked construction an earlier, smaller dam on Macal River 1991. Mollejon dam result deal between two powerful Belizean politicians: Ralph Fonseca, chairman Belize Electricity Board (BEB), WH Courtney, acting treasurer Belize's other state power company, Belize Electric Company Limited, BECOL. BECOL produced power.

BEB distributed customer.

"In January 1991, Fonseca invited bids international companies construct operate hydroelectric facility Mollejon. Packed with generous concessions, including exclusive water rights Macal River, contract was weighted favour purchaser. snapped up Dominion Energy International, North Carolina-based power giant, $12m. At time negotiations, Fonseca minister state prime minister's office (a non-elected role), well chairman board Belize Electricity; he, rather than minister finance, signed the tripartite deal with Dominion on behalf government, well capacity BEB chairman. 'I ran the ministry finance', he told me when I asked him if he had overreached himself.

"As soon Mollejon dam's turbines began spin 1995, became clear could never produce the amount power which had been contracted. But under contract signed Fonseca, Dominion guaranteed $8.5m per year, whether not dam l single light bulb. These costs were passed on Belizean consumer, who ended up paying far more their power than should have done.

"Two years ago, part ongoing privatisation public utilities being urged upon International Monetary Fund World Bank, last portion Belize's electricity industry auctioned off. theory behind privatisation that, breaking up state monopolies, will increase competition lower prices. effect is usually opposite.

"The man overseeing privatisation Belize's economy Ralph Fonseca, present minister budget management, investment public utilities".

I will skip over Mr. Worrall's speculation about Mr. Fonseca's financial holdings abroad, go on where the article gets back subject Chalillo. Mr Worall writes: "Five companies, including one Taiwan, expressed interest investing Belize's electricity network when came up privatisation. All balked building second, far larger dam on Macal River, Chalillo. made sense economically. cost environment too high. A Canadian company, Fortis, which owns substantial commercial real estate holdings along Canadian Atlantic coast, rushed in where others feared tread.

"Under its bullish CEO, Stan Marshall, Fortis aggressively expanding its operations. had tried unsuccessfully acquire monopoly over Newfoundland's electricity industry 1994. Belize, saw an opportunity to achieve what could not home. Most importantly, Fortis had qualms about dams.

"Before moratorium banned building dams size envisaged on Macal, had built most of Newfoundland's hydroelectric facilities. 1999, despite its own law prohibited any one investor acquiring more than a 25% stake, Fonseca-Musa government allowed Fortis buy controlling interests 65% 95% respectively BECOL and BEL (Belize Electricity Limited, old BEB renamed when partially privatised), giving monopoly over both generation supply power." Mr Worrall describes Prime MInister, Said Musa as, "a dapper, compact man Palestinian origin who holds law degree Manchester University, who talks talk well anyone. 'Our people suffer poverty,' he told me, as we sat office capital, Belmopan. 'We need development country. And much want preserve our environment future generations, have develop.' When I pointed out moratorium in Newfoundland on size dam government allowing Fortis build Belize, he grew testy. 'Canada continues to build dams,' he said. 'The European countries continue build dams. But little Belize not allowed build dams? Is that what you are telling me?'"

There an alarming footnote Mr Worrall's article whcih I am sure few Belizeans realize: "Fortis has been given something else company could ever hope get developed world: exclusive water rights. Fortis now effectively owns Macal River. can charge farmers fru growers extracting water irrigation. can store and release water when chooses. agreement indemnifies Fortis against any third party damages. If Julio Sosa's children happen swimming river when sluice gates are opened are drowned, Fortis not liable. If there dam burst an entire village swept away, Fortis has right sell dam Belizean government for $1, thereby absolving repair decommissioning costs."

How much more have Belizeans NOT been told?