Sri Lanka plans 65% power tariff hike from January

Sri Lanka
By Editor_1
-indiaherald.com

COLOMBO – Sri Lanka plans to hike power tariffs by 60 to 65% in January 2022 through cabinet approval to offset costs, officials said.

Public Utilities Commission of Sri Lanka (PUCSL), the regulator has not given sufficient increase in an August decision, General Manager of Ceylon Electricity Board, Rohan Seneviratne said.

“We will go to cabinet on January 2, 2023. The price hike will happen legitimately and if anyone has the right to express their views and criticize the tariff raise, if they wish to they could even challenge it in court.” Kanchana Wijesekera, Minister of Power and Energy told reporters.

“The cost is based on average rainfall. We still do have a forecast for rain next year. If there is more rain the coming year, we will reduce the price in the month of July.”

Sri Lanka expects to give some benefit to industries to maintain their competitiveness and also to low income households.

There is currently an effective subsidy of about 100 billion rupees to industries and 120 billion rupees to households Wijesekera said.

-economynext.com

 

Editor_1
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