BOI companies oppose proposed electricity tariff hike

Factories in the free trade zones have raised concern over the government’s proposed three to four-fold increase in electricity tariffs from manufacturing industries.

In this respect, the Free Trade Zone Manufacturers’ Association (FTZMA) in a letter to the Power Minister Kanchana Wijesekara stated that they cannot agree with the three to four-fold increase in their electricity bills as stated in the media.

However, it points out, “We are very much conscious of the current predicament of the country and we accept a reasonable revision of tariff is needed due to the devaluation of the Rupee against the USD.”

They also stated that installing solar panels is not a viable option as they do not have sufficient roofing capacity and that the exorbitantly high costs of solar batteries would impact on their costs.

Moreover, the defaults on payments by the CEB to renewable energy operators / companies was another cause for concern, the association stated. (SD)