CEB to implement pricing formula for electricity - Energy sector trade unions

COLOMBO (News 1st) - At a press briefing of the Power sector Trade Unions held yesterday (October 15), information on the Ceylon Electricity Board implementing a price formula for electricity tariffs surfaced. Upon an inquiry made by News 1st from the Secretary to the Ministry of Power and Renewable Energy, Suren Batagoda, he said that such an action cannot be taken according to the existing act. He added that if such a pricing formula is to be implemented the prevailing act will have to be amended. Batagoda continued to say that a special committee will be appointed to look into the impacts of the price hike of fuel on the energy sector and analyze whether an increase in electricity charges are also necessary. He stressed, that Diesel which was previously bought at Rs. 95 to generate electricity, now costs Rs.123 and based on the recommendations made by this committee that necessary steps will be taken.