CEB ceases operations as new electricity law takes effect; unions threaten strike

Sri Lanka
By Editor_1

COLOMBO – Ceylon Electricity Board (CEB) has ceased operations following the implementation of the Sri Lanka Electricity Act No. 36 of 2024, with six newly established companies taking over the functions of the state power utility from Monday (9), the utility said in a stock exchange filing.

The restructuring comes as about 25 CEB trade unions were set to launch a strike from 3:00 p.m. on Monday in protest over several demands related to the reforms.

In a filing to the Colombo Stock Exchange (CSE), the utility said an Extraordinary Gazette issued by the Minister of Energy declared March 9, 2026 as the “appointed date” for the implementation of the new electricity law.

Under the reform, CEB’s operations have been transferred to six state-owned companies established as part of the sector’s restructuring. These are: National System Operator (Pvt) Limited, Electricity Generation Lanka (Pvt) Limited, National Transmission Network Service Provider (Pvt) Limited, Electricity Distribution Lanka (Pvt) Limited, Energy Ventures Lanka (Pvt) Limited, and CEB Employees Funds (Pvt) Limited.

All assets and liabilities of the former CEB have been transferred to the new entities in line with a preliminary transfer plan approved by the Cabinet of Ministers, the filing said.

The utility also said the debenture liabilities of the former CEB have been assigned to Electricity Distribution Lanka (Pvt) Limited.

-ENCL

Editor_1
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