Lynn R. Young, President and Chief Executive Officer (left), and Rene J. Blanco, Vice President, Finance and Chief Financial Officer, Belize Electricity Limited (right) TSE:FTS Operations Belize Electricity 17 FORTIS Inc. 2OO1 Annual Report Belize Electricity is the primary distributor of electricity in Belize, Central America. Serving more than 57,000 customers, the Company meets the country’s peak demand of 49 MW from multiple sources of energy which include power purchases from BECOL, from Comission Federal de Electricidad, the Mexican state- owned power company, and from its own diesel-fired generation. All major load centers are connected to the country’s national electricity system which is connected to the Mexican electric grid, allowing the utility to optimize its power supply options. Fortis owns a 67 per cent interest in Belize Electricity. Strong growth in the Company’s customer base, which increased more than 7.5 per cent over 2000, make continuing improvements to service and productivity a top priority. With input from customers about their service needs and expectations, Belize Electricity implemented several initiatives which enhance communications by responding to customer inquiries more efficiently and which provide added convenience to customers through improved bill delivery and payment options. Leveraging the benefits of technology, an automated billing process was installed this year which has resulted in significant cost reductions and efficiency improvements in the Company’s billing processes. Belize Electricity plans to implement future technological and customer service initiatives to further increase its Customer Satisfaction Index which was 82.5 per cent at year-end.  The Power III Project, a three-year rural electrification project being undertaken in partnership with the Government of Belize, extended first-time power to  many rural areas in Belize. In 2001, more than 138 miles of distribution lines were installed connecting approximately 1,200 new customers and approximately 188 miles of sub-transmission lines were installed interconnecting isolated loads to the main electricity grid. Belize Electricity realized significant savings as a result of closing its last isolated diesel power station in northeastern Belize. The Company began construction of another 50 miles of sub-transmission lines to connect isolated loads in southern Belize which will result in the closure of two of its last three remaining isolated diesel power plants.  Personal customer visits are an integral part of Belize ElectricityGLYPH<213>s daily operations.