Cabinet proposes Electricity Price Formula; says no option but to increase the tariff


COLOMBO (Info 1st) – Sri Lanka’s Cabinet of Ministers decided to intruct the Minister of Power and Vitality to introduce a value system for electrical power tariff, very like the fuel value system.

The Authorities Data Division in an announcement acknowledged that the Cabinet of Ministers thought-about the proposal submitted by the President in his functionality as a result of the Minister of Finance, Monetary Stability and Nationwide Insurance coverage insurance policies and the Minister of Power and Vitality regarding the revision {of electrical} power tariffs. 

It was extra seen by the Cabinet that the Treasury simply is not ready to current the necessary funds for the Sri Lanka Electrical power Board inside the current financial home and resulting from this reality there isn’t a such factor as a distinct risk nevertheless to revise the current electrical power tariffs to ensure a gentle electrical power present inside the nation whereas minimizing the impression on electrical power clients as rather a lot as doable. 

Accordingly, approval was given to proceed as follows:

– The Public Utilities Price of Sri Lanka will extra analysis the proposed revision {of electrical} power bills submitted by the Electrical power Board and if any revision is required, to submit the similar on or sooner than 15.02.2023.

– Until then, the Ceylon Electrical power Board and the Public Utilities Price of Sri Lanka will collectively take compulsory measures to implement {the electrical} power tariff revision proposed by the Ceylon Electrical power Board with impression from 01.01.2023 as an interim measure in accordance with the amendments to the Public Protection Ideas presently in drive regarding the Power Enterprise

– If the Sri Lanka Public Utilities Price submits any amendments, the Ceylon Electrical power Board will take steps to implement these amendments and make the necessary modifications to future month-to-month electrical power funds.

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