The Board of Directors of the Ceylon Electricity Board (CEB) has formally abandoned plans for privatization, choosing instead to focus on comprehensive restructuring aimed at improving efficiency and service quality.
In a statement, the CEB announced that this decision followed a meeting between the Chairman and Board members on October 23.
Under the new restructuring framework, the CEB will implement key organizational reforms to enhance customer satisfaction, raise service standards, achieve sustainable profitability, promote social and economic development, and improve working conditions for employees.
Furthermore, it has been decided to amend the Sri Lanka Electricity Act to ensure government ownership of all power plants, as well as transmission and distribution networks, without privatization.
To address the financial and operational management of electricity generation, transmission, and distribution, the CEB has proposed an independent mechanism under a single-buyer model. This structure will include extensive consultations with the public and stakeholders to foster transparent and effective governance.
The CEB Board has also set an ambitious goal to make Sri Lanka’s electricity costs the lowest in the region within the next five years.
