Power Tariffs To Be Revised Four Times A Year Instead Of Twice As Practiced Now


October 23, 2023


Plans are in the pipeline to formulate a mechanism to revise the electricity tariffs once in three months, this move comes sidelining existing system every six months.Speaking to journalists yesterday at the Presidential Secretariat, Power and Energy Minister Kanchana Wijesekera said there was a misconception that the Ceylon Electricity Board (CEB) can only revise electricity tariffs twice a year and that the CEB has not conducted the recent tariff revisions according to the law.He also maintained that the proposals pertaining to the restructuring of the CEB are due to be presented before the Cabinet of Ministers next week.Earlier this year, it was discussed that the CEB would be restructured in a manner in which the management of the CEB will undergo reforms so as to enable renewable energy generation to be promoted within Sri Lanka with the support of the government, and private and public partnerships.The Cabinet of Ministers, on 17 April, approved the proposed road-map and timeline of the (CEB) restructuring process.The Minister added: “While preparing the guidelines it was outlined that the CEB has the authority to make a tariff request in the event of a crisis. Electricity tariff revisions have been conducted using this system,” he explained.Speaking on the necessity of tariff revisions at a time when heavy rainfall has been reported across Sri Lanka, he claimed that even though floods have been reported in certain areas, rain has not been reported in the areas where power-generating reservoirs are located. “At present, only 65.8% of water capacity can be used from all the reservoirs for power generation. This is 20% less than the water capacity that was reported on October 22, 2022, which was 84.4%,” he said,He also said that a proposal for the restructuring of the Ceylon Electricity Board (CEB) will be presented to the Cabinet of Ministers