Cabinet approval for electricity tariff hike in 2023- CEB

November 30, 2022 at 6:16 PM

The Cabinet has approved increasing electricity tariffs under two steps in January and June 2023 to cover the current losses of the Ceylon Electricity Board (CEB).

This was disclosed at the meeting of the Sub Committee on Identifying the Short & Medium-Term Programmes related to Economic Stabilization of the National Council held under the Chairmanship of MP Patali Champika Ranawaka yesterday (29).

According to a statement by the Parliament of Sri Lanka, electricity board representatives stated during the meeting that electricity tariffs should be increased by about 70% in order to cover the current loss.

Additional General Manager of the Electricity Board Rohan Seneviratne said accordingly, the relevant measures are to be taken for the purpose of obtaining approval of the Public Utilities Commission of Sri Lanka (PUCSL).

It was also disclosed that the Ceylon Electricity Board currently owes nearly Rs. 650 billion as loans to various parties including banks and electricity suppliers. 

Electricity Board representative stated that out of the amount to be paid, nearly Rs. 35 billion are to be paid to the organizations that supplied renewable energy, and Rs. 75 billion is to be paid to Thermal power suppliers. 

Meanwhile, the PUCSL has refuted reports pertaining to a possible hike in electricity tariffs. 

Issuing a statement, PUCSL Chairman Janaka Ratnayake said that no electricity tariff hike is being considered at present.

Full Parliament statement: (NewsWire)