Proposals pertinent to the restructuring of the Ceylon Electricity Board (CEB) will be tabled before the Cabinet the following week, said the Minister of Power and Energy Kanchana Wijesekera addressing the Media today (23).
Justifying the essentiality of the recent tariff revision at this particular time where intense downpours have been witnessed across the country, Minister Wijesekera asserted that adequate rainfall has not been observed in the areas where hydroelectric reservoirs are based.
Adding that, the Minister further said that only 65.8% of hydro capacity could be made use for energy generation which is 20% lower than the hydro capacity that was recorded on October 22, 2022 which stood at 84.4%.
The Minister has also emphasized on formulating a framework to revise electricity tariffs once in every three months in place of the present system of six months.
Delving into particulars on the pertinent proposal, he mentioned that the required documents have already been delivered to the Attorney General’s Office and the Ministry is looking forward to its response this week.
On Sunday (22), State Minister for Finance Shehan Semasinghe said that all efforts have been speeded up to restructure government bodies.
Minister Semasinghe further underscored that the revamp of state institutions running at a loss, is making significant progress aiming at overcoming the existing economic constraints.
Discussions centered on the CEB being subjected to administrative reforms earlier in the year to promote renewable energy generation in Sri Lanka, at the hand of both state-run and public-private collaborations.
Hence, on April 17, the Cabinet green-lit the proposed roadmap and timeline for the CEB’s restructuring process.
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