Heat 1 tablespoon olive oil in a saucepan over medium-high heat. Add the chopped red bell pepper and sauté for 3-4 minutes until pieces soften.
Add 1 cup minute rice to the saucepan along with 1 teaspoon Italian seasoning, 1 teaspoon garlic powder, ½ teaspoon onion powder, ½ teaspoon salt and ½ teaspoon black pepper. Stir it with the peppers. Cook for another 1-2 minutes to lightly toast the rice.
Pour in 2 cups vegetable broth and bring it to a boil. Once boiling, reduce the heat to low, cover the saucepan with a lid, and simmer for 15-20 minutes, or until the rice is cooked and the liquid is absorbed. Do not stir during this time.
Stir in 1 cup frozen peas. Let it sit, covered, for another 3-4 minutes to warm the peas through. Fluff the rice with a fork. Serve and enjoy!