Cabinet delays electricity tariff hike amid rising opposition

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By Editor_1

COLOMBO – Sri Lanka cabinet delayed a decision to raise electricity tariff to a record high level this year to sustain the state-owned utility provider Ceylon Electricity Board (CEB) and avoid extended power cuts.

The government move to raise the tariff comes amid discussion for a US$ 2.9 billion loan from the International Monetary Fund (IMF) to move out of an unprecedented economic crisis.

Power and Energy Minister Kanchana Wijesekera tabled the proposed new tariff structure at the Cabinet meeting on Monday (2). The government has already raised electricity tariff by over 50% last year and the new tariff hike is expected to increase the current rate by at least 65%, government officials have said.

“Proposed Electricity tariff revision was discussed at the Cabinet meeting held today. Briefed the ministers on the requirements, proposed tariff structure, energy forecast & finances. One week was extended for the cabinet of ministers for their observations on the proposals,” Minister Wijesekera tweeted after the cabinet meeting.

The decision to delay the implementation of the proposed hike comes amidst a a public signature campaign against the new tariff hike amid a tug-a-war between the government and CEB trade unions over the proposed hike.

Sri Lanka still has daily power cuts as the CEB has failed to ensure adequate power supply due to past policy failures.

The CEB has rejected hundreds of renewable energy projects citing technical issues in the past. Renewable energy projects could have reduced the energy prices by more than 50%, had they been implemented in the past, energy experts have said.

-economynext.com

Editor_1
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