New government to strike fuel supply deal between CPC, CEB for power generation

16 October 2024 07:42 am Views - 3310

Colombo, October 16 (Daily Mirror) - The Ceylon Electricity Board has decided to strike a fuel supply deal with the Ceylon Petroleum Corporation to receive fuel for power generation in the future instead of the plan initiated by the previous government to do so through an open bidding process ,an official said .

The last government, towards the tail end of its term , has taken a decision to call for bids from different fuel suppliers such as the Corporation, LIOC and Sinopec for fuel supply .

However, there is a change of government by the time the documentation process of that decision reached the final stage for approval .

The new government , however, is not ready for that decision to be implemented for a long time since there is no substantial price variation among different suppliers .

According to the CEB, the CPC had not even deducted the dealer margin in transaction when supplying fuel for power generation in the past .

Currently both the CPC and the CEB come under the Energy Ministry .