- PUCSL nears completion of revision process
- CEB proposes 3.34% tariff reduction
The Public Utilities Commission of Sri Lanka (PUCSL) is on track to complete its electricity tariff revision review process by mid-February, with plans to unveil the new tariffs by the end of the month, The Sunday Morning learns.
It is learnt that the anticipated changes come as a response to favourable hydro storage as well as profits earned by the Ceylon Electricity Board (CEB) for the year ending 31 December 2023.
As part of the process, a public consultation on the proposed tariff revision is scheduled for 15 February, providing stakeholders an opportunity to weigh in on CEB’s tariff proposal for January to March 2024.
The proposed structure includes a 3.34% reduction, already approved by the board and set to be implemented from 1 February.
To ensure transparency and compliance with regulations, the PUCSL will engage stakeholders in accordance with Section 30(3) of the Sri Lanka Electricity Act (SLEA).
Comments on the proposed forecast costs and tariff structure are invited from stakeholders until 12 February through written submissions via email, fax, or post. An oral consultation session is scheduled for 15 February in Colombo.
When contacted, PUCSL Corporate Communications Director Jayanat Herat said the PUCSL expected the review process to conclude by the end of next month.
Meanwhile, CEB Spokesman Deputy General Manager Noel Priyantha revealed that the tariff proposals were currently with the PUCSL, pending the commission’s approval.
The proposed tariff reduction follows Sri Lanka’s third electricity tariff revision for 2023 on 21 October which saw an 18% increase. This was preceded by a 66% rise in electricity tariffs from 15 February 2023 and an additional 14% increase effective 1 July 2023. Notably, the CEB was granted a substantial tariff revision of 75% in August 2022.