The Public Utilities Commission of Sri Lanka (PUCSL) says the final decision on the proposed electricity tariff revision will be announced this week.
The electricity regulator, PUCSL, said a final decision will be made after reviewing over 500 written and oral submissions received during the public consultation process held on the proposed tariff revision.
Quoting the Director of Communications at the PUCSL, Jayanath Herath, The Morning newspaper reported that more than 500 written and oral submissions were received during the consultations.
According to the report, Jayanath Herath said that the process of reviewing them was completed last week. He also stated that relevant recommendations are currently being prepared and that they are scheduled to be submitted to the PUCSL.
As such, Jayanath Herath confirmed that the final decision in this regard is scheduled to be announced this week.
The Ceylon Electricity Board (CEB) had requested an 18.3% tariff hike for the period from June to December, stating that it was necessary to manage rising operating costs and repay debt, including previous borrowings.
According to the CEB, even with the proposed tariff hike, average rates remain about 5.4% below the level of rates maintained at the beginning of the year. With the 20% reduction in January, the average rate is now Rs. 24 per kilowatt hour.
CEB Spokesperson Engineer Dhammika Wimalaratne recently stated that although fuel prices, spare parts and generation costs increased, tariffs were not adjusted appropriately from 2014 to 2022.
Stating that during that period, the CEB operated by borrowing and postponing payments, he said that this situation has led to the financial crisis that it is currently facing. (Newswire)