On Friday (8), Sri Lankan authorities announced the publication of the Sri Lanka Electricity Bill through a gazette. Once approved by the house, this bill will transform into an act aimed at implementing substantial reforms within the electricity industry. Key provisions include the establishment of the national electricity advisory council and the designation of the Public Utilities Commission of Sri Lanka as the regulator for this sector.
The bill also outlines legislative measures concerning the incorporation of corporate entities under the Companies Act, No.07 of 2007. These entities will be entrusted with all activities associated with the generation, transmission, distribution, trade, supply, and procurement of electricity.
