Electricity Bills Set to Surge: CEB To Propose 20% Hike

COLOMBO (News 1st); The Ceylon Electricity Board (CEB) is set to submit a proposal to the Public Utilities Commission of Sri Lanka (PUCSL) today, recommending an electricity tariff increase of approximately 20%.

In a related development, Professor Udayanga Hemapala, Secretary to the Ministry of Power and Energy, has been appointed as the Acting Chairman of the CEB.

This follows the overseas leave of Dr. Tilak Siyambalapitiya.

Last month, the International Monetary Fund (IMF) emphasized the urgent need for the Sri Lankan government to implement critical reforms related to electricity cost-recovery pricing and the automatic electricity price adjustment mechanism.

Evan Papageorgiou, the IMF Mission Chief for Sri Lanka said that the current tariff does not adequately cover the costs of the Ceylon Electricity Board (CEB), including generation, transmission, and distribution. Additionally, the automatic tariff adjustment mechanism, based on bulk-supply consumption, has not functioned as intended.

Sri Lanka President Anura Kumara Dissanayake also revealed that a June electricity tariff revision will see a hike.

Speaking during the SATANA televised political discussion on 2nd May President Dissanayake stressed the need for cost-reflective electricity pricing, aligning with recommendations from the International Monetary Fund (IMF).