Power Tariff hike effective from 1st. January

Cabinet decides unanimously - Bandula

By Sandun A. Jayasekera

The cabinet that met on Monday has unanimously decided to increase the power tariff effective from January 1st and the PUCSL has been given time until February 15 to propose tariff revisions, cabinet spokesman, Minister Bandula Gunawardana said yesterday.  

If the Public Utilities Commission of Sri Lanka (PUCSL) shows a way of bringing down the increased ratio of tariff to cover the cost of production, generation, distribution and management of the Ceylon Electricity Board (CEB), the government is ready to pass the benefit to the electricity consumer and reduce the increased ratio of tariff, Minister Gunawardana added.  
There will be no power cuts with the imposition of the power tariff hike, Minister Gunawardana said.  

Addressing the media at the weekly post cabinet news briefing last morning, Minister Gunawardana said the Cabinet considered the proposal submitted by President Ranil Wickremesinghe in his capacity as the Minister of Finance, Economic Stability and National Policies and the Minister of Power and Energy regarding the revision of electricity tariffs.   
It is further considered by the cabinet that the Treasury is not able to provide the necessary funds for the Sri Lanka Electricity Board within the existing financial space and therefore there is no other option but to revise the existing electricity tariffs to ensure a continuous electricity supply in the country while minimizing the impact on electricity consumers as much as possible. 

• The Treasury is not able to provide the necessary funds for the Sri Lanka Electricity Board within the existing financial space