COLOMBO, Feb 16 (NNN-XINHUA) – Sri Lanka’s electricity regulator, Public Utilities Commission (PUCSL), yesterday approved increasing the electricity tariff by 66 percent, with effect from the same day (yesterday).
The PUCSL in early Jan, received a proposal from the state-owned electricity producer, Ceylon Electricity Board (CEB), to increase electricity tariffs by 66 percent to avoid losses.
It took about six weeks for the PUCSL to come to an agreement.
The CEB suffered an estimated loss of 152 billion rupees (416 million U.S. dollars) in 2022, according to official data.
Sri Lanka raised electricity tariffs by 75 percent in Aug, 2022. However, the CEB said, it continued to make losses, and in Jan, 2023, the cabinet of ministers authorised another tariff hike.
PUCSL must authorise any tariff changes, before they can be implemented.– NNN-XINHUA
