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Electricity tariff revision after first week of July, PUCSL says
View(s):By Niranjala Ariyawansha
The electricity tariff revision which was to come into effect from July 1, the Public Utilities Commission of Sri Lanka (PUCSL) said, will be able to be done after the first week of July.
PUCSL Chairman Professor Manjula Fernando told the Sunday Times that the Tariff Revision Proposal 2024 submitted by the Ceylon Electricity Board (CEB) is due to be presented for public consultations of three weeks.
The CEB submitted the Second Electricity Tariff Revision-2024 prepared by them to the PUCSL, on June 6 for approval.
According to this tariff revision proposal, it has been suggested that the average electricity bills be reduced for domestic users by 26%, for religious places by 3%, for general purpose by 16% and for government categories by 14%.
According to the Second Electricity Tariff Revision-2024 which the Sunday Times has seen, “The new tariff proposal has been prepared considering relief for domestic, religious and the sectors that already have higher electricity rates based on policy instruction of Ministry of Power and Energy. Accordingly, the surplus has been allocated to all categories of the domestic, religious, general purpose and government categories by reducing the average electricity bill for the category by 26%, 3%, 16% and 14% respectively. Further an abnormality in setting the rates of agriculture-optional TOU tariff has been corrected as per the original directive from the MOPE”.
When preparing the proposal, the CEB has taken into consideration its revenue requirements.
To approach the best estimate of expenditure and revenue, the CEB said the Electricity Tariff Revision proposal was prepared considering an analysis of the existing tariffs, the existing coal and fuel reserves, future prices of fuel, hydropower inflow variations, scheduled power plant outages and additions, interest rates, envisioned economic recovery resulting in the increase of energy demand and sales, adjustment to approval allowed revenue of transmission and distribution and the various policy decisions of the government.
The CEB forecasts that there could be an additional electricity demand of 3% in the upcoming period, specifically stating “significant growth in electricity demand in the hotel category.”
Due to the La Nina effect, the second inter-monsoonal rainfall due in October and November this year could slow, having an impact on the hydropower generation.
Prof Fernado emphasised that under these circumstances, there is uncertainty regarding the rainfall expected during the rest of the year.
“The Meteorology Department issues weather forecasts in relation to two or three months only. This uncertainty affects the electricity tariff revision. Also, the rainfall being received in the areas where there are hydropower plants is only one reason that has an impact on deciding electricity tariffs. When determining electricity tariffs the drop in price of coal and prices of fuel also has an effect,” he said.
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