By Yohan Perera   

The Sectoral Oversight Committee on Energy and Transport has proposed a complete rollback of the 18 per cent electricity price increase imposed last year, a statement said. 

According to a statement from the parliamentary media unit, the committee, chaired by MP Nalaka Bandara Kottegoda, justified its recommendation by citing the Ceylon Electricity Board’s (CEB) boosted profits resulting from an upswing in hydropower generation capacity due to heavy rainfall.  

The committee emphasized the adverse effects of the electricity price surge on various sectors, including ordinary consumers, manufacturers, and export-oriented businesses. These stakeholders, the committee argued, have encountered significant challenges owing to the escalated cost per unit of electricity.  

As part of their suggested measures, the committee is advocating for the complete elimination of the 18% increase in the electricity bill implemented in October 2023. Additionally, they propose a swift integration of electricity generated by rooftop solar panels into the national grid. To further incentivize the adoption of solar energy, the committee is recommending the exemption of solar panel imports from Value Added Tax (VAT).  

If these recommendations find approval and are implemented, it could bring relief to electricity consumers and businesses grappling with increased costs. Moreover, the proposed measures align with a broader initiative to encourage the use of solar energy by making it more accessible and economically viable. The community awaits official responses and decisions from relevant authorities regarding the fate of these proposals and their potential impact on the regional energy sector.