Melt the butter in a skillet over medium-low heat. Add the red pepper and onions and cook for 3-5 minutes until they start to soften.
Add the green beans and cook until the beans turn bright green, about a minute.
Add the chicken broth, garlic powder and pepper to taste. Turn the heat to low and cover the skillet with a lid, leaving the lid cracked to allow steam to escape. Cook until the liquid evaporates and the beans are soft and starting to carmelize; 25 to 30 minutes.
Watch carefully the last 5 minutes; you want the beans to carmelize but not burn.
Season with salt and pepper to taste. Serve immediately.