Electricity tariff revision comes under review of the Cabinet today

The proposal containing the electricity tariff revision with effect from 2023 will be presented to the Cabinet of Ministers today (Monday), a top Ceylon Electricity Board (CEB) official said.

Energy Minister Kanchana Wijesekera submitted the relevant cabinet memorandum with respect to amending the electricity tariffs according to new pricing formula in accordance with the Article 30 of the Sri Lanka Electricity Act, last week and one week’s time was given for the Cabinet to review the proposal.

The Ceylon Electricity Board must prepare a new tariff revision under two steps for January and June and submit it to the Public Utilities Commission of Sri Lanka.

Thereafter, the proposal will be reviewed for justification, and when necessary public opinion will also be obtained. If concessions are to be provided, the Treasury needs to be consulted and thereafter a process will be adopted to amend the electricity tariff.

CEB General Manager Rohan Seneviratne said that the board will incur Rs.277 billion operational loss and the tariff revision will be based on cost reflective pricing formula.

However he noted that the new tariff structure will be devised based on the study conducted by CEB engineers and energy experts analysing 20 probabilities.

Accordingly the electricity tariff increase or decrease will be proposed by considering all those options, he disclosed. (Bandula)