The Ceylon Electricity Board (CEB) has submitted a proposal to the Public Utilities Commission of Sri Lanka (PUCSL) suggesting a 3.15% reduction in the electricity tariff, which was previously raised by 66% in February 2023. However, the PUCSL argues that a more substantial reduction of at least 27% is feasible if the tariff is accurately calculated. PUCSL Chairman Janaka Ratnayake emphasized that the CEB’s proposal cannot be accepted in its current form.
During a press briefing, Chairman Ratnayake informed reporters of the CEB’s submission, which was made on Monday (15). The CEB’s General Manager, Engineer Rohan Seneviratne, stated in the document that implementing the existing tariff structure from July to December 2023 would result in a surplus of Rs. 20 Billion based on cost and revenue analysis.
According to Seneviratne, this surplus could be utilized to reduce the average tariff by 3.15%. He further elaborated that the allocated surplus would primarily benefit consumers in the first three lower income blocks of both the domestic and religious categories, resulting in average bill reductions of 28%, 10%, and 7%, respectively.
Similarly, average bills for the first three blocks of consumers in the religious purpose category would experience reductions of 29%, 9%, and 7%, respectively, according to the proposal.
While the CEB’s offer seeks a modest reduction, the PUCSL maintains that a more substantial tariff decrease is possible. The regulatory body contends that a thorough calculation of the tariff could result in a reduction of at least 27%, providing greater relief to consumers.
The PUCSL will continue to assess the proposal put forth by the CEB, taking into account the concerns raised regarding the tariff calculation. As discussions unfold, consumers and industry stakeholders await a decision that will determine the future electricity rates in Sri Lanka.
