State Minister of Power and Energy, Indika Anuruddha Herath yesterday said that a significant reduction in electricity charges being contemplated by the Government is currently pending approval from the Public Utilities Commission of Sri Lanka (PUCSL).
The Ministry will announce the reduced charges during the first week of next month, he said.
State Minister Herath was responding to our inquiry about the potential decrease in electricity tariffs that the CEB managers say would be 50 percent from the tariff increase of 18 percent that the Ministry introduced in October last year.
He said that a definite figure could only be disclosed after obtaining an official endorsement from the PUCSL.
Asked if the recent unexpected heavy rains that filled the country’s hydro reservoirs to spill level was the main factor that influenced their decision, Minister Herath said that it was not the sole determinant.
He said factors such as the decrease in international coal prices and the Government’s successful negotiations with the International Monetary Fund (IMF) positively impacting the acceptance of Letters of Credit in international markets contributed to it.
“The Ministry expects to implement a considerable electricity tariff reduction. We anticipate that the PUCSL will give us a generous percentage,” he said.
He said that the Ministry had informed the PUCSL of efficient electricity supply operations, factors such as decrease in coal prices, and how they could contribute to reducing electricity production charges from fuel-powered plants.
He said the unprecedented synergy between the Ministry, CEB, and the PUCSL, fostered confidence to deliver enhanced tariff benefits to the public.
