September 29, 2022 05:03 (IST)
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Sri Lanka decides to hike electricity price by 75 pct Sri Lanka Electricity
Image by Supriyo Hazra/IBNS

Sri Lanka decides to hike electricity price by 75 pct

India Blooms News Service | @indiablooms | 09 Aug 2022, 05:38 pm

Colombo: The Public Utilities Commission of Sri Lanka (PUCSL) on Tuesday granted permission to hike electricity tariff by 75 percent, media reports said.

PUCSL Chairman Janaka Rathnayake was quoted as saying by Daily Mirror: "The category with consumption less than 30 units will be charged 25 % of the cost. They still get 75 % of subsidy."

Consumers that come under the category of above 31 units and below 60 units are charged 40% of the total cost. They get a 60% of subsidy. Only 50% of the actual cost is charged from the category of units above 61 and below 90. A 50% of subsidy is also given to that category, he said.

“75 % of the electricity consumers are still being subsidized even with the new tariff revision. Steps have also been taken to encourage electricity consumers to promote renewable electricity generation with the tariff revision decision. During the public consultation on the tariff revision, the users of solar systems pointed out that charging a monthly fee on their overall consumption is unfair,” the Chairman said.

With the increase in the cost of electricity generation, the Ceylon Electricity Board (CEB) had submitted two proposals to the PUCSL to increase the tariffs by 183% and 229%. However, both proposals were not approved. As per the provisions of the PUCSL Act, we have also sought public inputs before approving the tariffs.

The Commission decided to approve a fair electricity tariff, taking all these public and other stakeholder comments into consideration.

Sri Lanks have been battling a tough financial crisis and fuel shortage issue for the past several months.