New Electricity Bill approval a courageous and transformative step: CCC

In a landmark decision, Parliament of Sri Lanka has approved the long-awaited Electricity Bill, marking a significant milestone in public sector reform. 
The Ceylon Chamber of Commerce (CCC), which has been advocating for this change for the past few years, yesterday commended the decision, hailing it as a “courageous and transformative step” forward for the nation’s electricity sector.
The new bill paves the way for open access and unbundling of the Ceylon Electricity Board, a reform that has been in the making since 2001. This move is expected to enhance efficiency, promote competition and attract the much-needed investment into the electricity sector, ultimately benefiting consumers with improved services and more competitive pricing, the CCC said. 

“This is a significant step towards modernising our electricity sector, ensuring a reliable and efficient supply of electricity and fostering a more competitive market environment,” the CCC said. 
While the overall reception of the bill is overwhelmingly positive, the CCC expressed a note of caution regarding the transfer of certain powers to an advisory council appointed by the minister, which can potentially undermine the role of the regulator, raising concerns about the independence and effectiveness of the regulatory oversight. 
The CCC suggested a clear demarcation of roles, where the advisory council focuses on policy development, while the regulator retains its regulatory powers. 
“A strong, independent regulatory framework is essential for the success of these reforms. Therefore, the CCC urges careful consideration of the advisory council’s structure and its potential impact on the regulator’s autonomy,” the CCC noted. 
Despite these concerns, the CCC said the approval of the Electricity Bill represents a pivotal moment in Sri Lanka’s journey towards a more efficient and sustainable electricity sector.