Sri Lanka to establish new energy sector regulator

26 April 2024 06:22 pm Views - {{hitsCtrl.values.hits}} 2 Bookmark

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Colombo, April 26 (Daily Mirror) - The Cabinet has approved a proposal to establish a dedicated regulator for the energy sector.

Taking to ‘X’, Power and Energy Minister Kanchana Wijesekera said the petroleum, LPG, LNG, lubricants, oils and broader energy sectors are set to fall under the purview of the newly formed regulatory body.

The Public Utilities Commission of Sri Lanka (PUCSL) will retain its role as the regulator for the electricity sector, while the forthcoming regulator will assume responsibility for governing various aspects of the petroleum and energy industries.

This separation of oversight is expected to streamline the regulatory processes, foster greater accountability and optimize sector-specific regulations.

A specialized committee has been entrusted with the task of formulating the framework for the Energy Sector Regulator within a concise timeline of two months.

This framework is envisioned to encompass a comprehensive spectrum of regulatory considerations, ranging from fair pricing mechanisms and quality assurance to compliance monitoring and environmental standards.

Among the key areas slated for inclusion in the proposed regulatory framework are, fair pricing mechanisms & pricing formulas, quality assurance, compliance monitoring, safety in unloading, storage & distribution, environmental standards, industry collaboration & stakeholder engagement, dispute resolution, public awareness & education, emergency response and risk management.

Comments - 2

THIS FOX IS FIGHTING A LOSING BATTLE Friday, 26 April 2024 07:07 PM

THIS READS AS A BODY TO OVERSEE THE REGULATOR AND INVESTIGATE ITS OPERATIONS!!! ALL THESE APPOINTMENTS COMING UP, WHILE THE FOX WAS HALUCINATING OF HIS FORTHCOMING VICTORY??

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Sokrates Saturday, 27 April 2024 09:47 AM

Committees, committees and then a liason committee and finally a president committee. This doesn't help the bankrupt CEB with its thoroughly corrupt management and pampered employees. They will defend their sinecures using every means possible. The only thing that will lower prices and guarantee efficient work is the splitting of the CEB and selling it to several reputable Western and Japanese companies with great experience in this area. The new owners must be allowed to fire whoever they want and set up their own management. The old debts of the CEB must be taken over by the SL Government.

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