The Public Utilities Commission of Sri Lanka (PUCSL) has announced its intention to revise electricity rates before March, marking a significant move after conducting public consultations and evaluating proposals submitted by the Ceylon Electricity Board (CEB).
PUCSL Chairman, Manjula Fernando, affirmed that public comments would be collected on February 15th at the Bandaranaike Memorial Conference Hall. He stated, “After public consultation, the commission will meet and take immediate steps to reduce the rates.”
This initiative stems from a PUCSL request for the CEB to propose revised tariffs, taking into account 2023 profits and the advantageous hydropower capacity.
On January 16th, the CEB presented a proposal suggesting a 3.34% reduction. However, the PUCSL identified concerns in the CEB’s proposal.
The proposal included a 100 MW electricity purchase without commission approval and from unlicensed sources. Additionally, depreciation for power plants, funded by the government, was included in capacity charges, leading to an inflated cost estimate for 2024.
The PUCSL deemed the proposed distribution cost for 2024 to be an overestimate and highlighted that the CEB’s 2023 profit of 48.722 billion rupees was not factored into the proposed reduction.
Underlining its commitment to transparency, the PUCSL invited public input through oral comments at the Bandaranaike Memorial Conference Hall. The registration period for this session closed on Monday, 12th February.
