Minister of Energy Kumara Jayakody says the government hopes to keep electricity tariffs unchanged.
Speaking in Parliament today, Minister Jayakody said the government’s primary objective is to try and provide electricity at the least cost to houses and industries
He further said that a price revision will only be made, taking into account several factors, including forecasts and debt repayments.
“Reducing electricity charges is how we can offer services for a lesser price. Therefore, we are working to reduce the price or to maintain it without increasing it. Prices have not been increased, just because it has been said by the IMF. We have not taken any such decision,” he said.
Stating that the Ceylon Electricity Board (CEB) has not handed over its price calculation as yet, he said once completed, it should be submitted to the Public Utilities Commission (PUCSL) by the end of this month or the beginning of next, after which a decision on tariffs would be taken.
“The government or the CEB has not taken any decision in this regard as yet. We have to consider the profit over the last five months and the forecast for the next six months, which is considered a wet season. The government hopes that the wet season is a positive sign and will prevent us from going for a price increase. We also have to look at debt repayment, a part of which has to be included in the electricity bill. All of this will be properly addressed and announced by the beginning of next month,” he added.
The Energy Minister said that even by accident, the government will not take a negative side, as the government does not want to increase tariffs and wants to stabilise the situation.
Minister Kumara Jayakody made the remarks while responding to questions raised in Parliament today on the possible increase in electricity tariffs due to a condition laid out by the International Monetary Fund (IMF).
The matter was raised, after IMF Sri lanka Mission Chief Evan Papageorgiou had recently announced that Sri Lanka should restore cost-recovery electricity pricing as soon as possible to minimise fiscal risk and was essential to complete the fourth review of the IMF’s External Fund Facility (EFF) programme. (Newswire)
