Water tariffs to be reduced after power price drop
The Government is considering reducing water tariffs due to lower energy costs following the rupee’s sharp appreciation, says Minister of Water Supply Jeevan Thondaman.
In accordance with President Ranil Wickremesinghe’s directive the ministry is devising a water tariff formula with the Asian Development Bank assistance.
Minister Thondaman revealed that the Water Supply Board, previously losing Rs 2.8 billion monthly, now makes a profit of Rs 6.2 billion.
In August 2023, the National Water Supply and Drainage Board (NWS & DB) increased water tariffs significantly due to higher operating costs from increased bank loan interest payments and electricity prices.
The last tariff hike led to a 30-50 per cent rise in water bills for consumers. After fuel price reductions, the Energy Ministry cut electricity tariffs recently.
Minister Thondaman praised Minister Kanchana Wijesekera for lowering electricity tariffs. The water supply sector, closely tied to electricity tariffs, is likely to see reduced water tariffs following this revision.
Additionally, the ministry is studying the potential reduction in water tariffs based on the dollar exchange rate changes, as the cost of chemicals procured by the board is influenced by the dollar rate.
The board’s transformation from a loss to a profit ensured the water supply sector’s sustainability by allocating the surplus towards debt servicing.
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