• Last Update 2024-07-19 16:40:00

Govt. to introduce new electricity pricing formula

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A new cost reflective electricity pricing formula where prices are revised every six months will be implemented effective January 1, 2023, Power and Energy Ministry sources said. 

The pricing formula has been given the green-light after Cabinet yesterday approved a proposal by Power and Energy Minister Kanchana Wijesekara to amend the general policy guidelines for the electricity industry. Approval was also given to introduce a cost reflective electricity tariff with effect from this month. 

Power sector regulator Public Utilities Commission of Sri Lanka (PUCSL) has already stated there is no need to increase electricity tariffs at present and has insisted that it will reject any attempt to raise tariffs again so soon after the last hike in August. 

 

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