Electricity prices will be reviewed and revised by July, Energy Minister Kanchana Wijesekera said.
“Electricity prices will be reviewed and revised by July 2023, keeping in line with the government policy and cabinet decision taken in December 2022, to implement a cost-reflective pricing mechanism and to review and revise electricity prices biannually in January and July of every year,” the Minister tweeted a short while ago.
The Minister also stated that Cabinet approval has been granted on Tuesday (02) for the Ceylon Electricity Board to adopt a new formula to calculate the feeding tariff for renewable energy projects to encourage more investments in the sector.
“Formula will be variable over 20 years and front-loading the first 10 years taking into account Average Weighted Prime Lending Rate (AWPLR), Treasury Bill Rate (TBR), exchange rate and inflation. An investment premium of up to three percent is made available for selected projects,” the Minister said.
He said developers will have the option of choosing the variable feeding tariff formula or the fixed tariff formula that was introduced last year. The new formula will be available for only new power purchasing agreements.
The Judicial Service Commission (JSC) has interdicted Colombo Fort Magistrate Kosala Senadheera.
Mr. Ali Sabri Rahim, a Member of Parliament (MP) for Puttalam District whom an open warrant had been issued, attended a public ceremony at Al Aksha National School in Kalpitiya today (16) as the special guest of honor.
The Supreme Court today refused interim relief in an application filed by President’s Counsel Senaka Walgampaya seeking an Order from the Supreme Court compelling the President to appoint judges to fill the existing vacancies in the Court Of Appeal.
Gazette on new speed limit regulations to be issued within two weeks
Two underworld criminals wanted for multiple crimes, including murder, were brought from Dubai to Sri Lanka, today (12).
Senior DIG Nilantha Jayawardena has been sent on compulsory leave pending disciplinary investigation over his failure to prevent the Easter Sunday bombings.
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