• Mentions data presented on electricity consumption/generation cost reductions

The revision of electricity tariffs proposed by the Ceylon Electricity Board (CEB) on 15 May should be in accordance with the data presented by the Public Utilities Commission on the reduction in electricity consumption and electricity generation costs, said its Chairman, Janaka Ratnayake.

The Public Utilities Commission of Sri Lanka (PUCSL) Chairman Janaka Ratnayake said early this week that the electricity consumers should receive an immediate electricity tariff reduction by approximately 20%, given the recent reductions in electricity demand, foreign exchange rates and fuel prices.

When The Daily Morning queried him as to whether the CEB had responded to his statement, he said that he had not received any particular response from the CEB, other than the previous notification that it (CEB) would propose a tariff revision by 15 May. "I have not received a response yet, but I have very clearly presented the relevant data with regard to electricity consumption, and reductions in the related costs. What the CEB would propose by 15 May should be in accordance with those data. If not, the people should stand up against it."

CEB Chairman, Nalinda Illangakoon was not available for comment.

Issuing a statement, Ratnayake recently said that as per actual data for the first quarter of the year (2023), the electricity demand in the country had dropped by 18% in comparison to last year (2022), explaining that this reduces the reliance on high cost, oil fired thermal electricity generation. Further noting that the United States Dollar (US $) exchange rate had gone down from Rs. 370 per US $ to around Rs. 325 per US $, which was a 13% reduction, he said that the same brings down fuel and other import costs of the CEB, thereby reducing the costs by about 20% per annum. In addition to those two cost drivers, he said that international fuel prices too had reduced significantly, and that as a result, the fuel costs to the CEB would reduce significantly.

While the CEB had, in response to the above request, stated that they would make a tariff revision by 15 May, he said early this week that electricity consumers should receive an immediate electricity tariff reduction by approximately 20%, given the recent reductions in the electricity demand, foreign exchange rates and fuel prices.