Nearly 60% power price hike next year?
Officials in the energy industry were informed of a proposal by authorities recently, during a conference, of a move to increase electricity tariffs by nearly 60 per cent next year.
Industry stakeholders who attended the Energy Roundtable Conference recently told the Business Times that there was a proposal by certain officials to increase electricity tariff rates owing to the increase in fossil fuels.
They said that depending on the fossil fuel prices which are inclined to go up, the tariff will have to be changed.
Recently, the Ceylon Electricity Board requested a 375 per cent tariff increase, with the Public Utilities Commission of Sri Lanka (PUCSL) sanctioning only 75 per cent of it.
Industry officials warned that dependence on fossil fuels for energy sourcing will be a never-ending vicious cycle.
When contacted, Damitha Kumarasinghe, Director General PUCSL told the Business Times that the way out of this situation is to increase the renewable energy injection to the national grid.
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