CEB facing losses of more than Rs 75 billion owing to IPP power purchases - CEBEU

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The Ceylon Electricity Board (CEB) is facing losses between Rs 75 - 80 billion due to the purchase of power from Independent Power Producers (IPP)'s, CEB Engineers Union (CEBEU) President Saumya Kumarawadu said.

At present, the CEB has purchased 100MW's of power from an IPP in order to cover up the deficit of 300 MW's which has been caused due to the drought.

Further, negotiations are underway to purchase 70MW's of electricity from Ace Power Ltd in addition to some tenders which will be awarded to other IPP's in due course.

Meanwhile, steps are also being taken to renew contracts which were signed with other IPP's for a period of one year, the CEBEU President said.

(Reporting by Damith Wickramasekara)

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