The Ceylon Electricity Board (CEB) has confirmed that its latest electricity tariff proposal is ready but cannot proceed due to the absence of the Public Utilities Commission of Sri Lanka (PUCSL). The PUCSL, the sole authority for approving tariff changes, is currently not operational, delaying the scheduled revision originally set for October 1, 2024.
Anticipated Implementation in 2025
A senior CEB official disclosed that the new tariffs are expected to take effect in January 2025, provided the PUCSL is reconstituted and conducts the necessary reviews.
"The PUCSL will conduct the necessary reviews when it is operational, and we anticipate that the new tariffs will take effect in January next year," the official stated.
The official did not specify whether the revised tariff would increase or decrease but emphasized that adjustments depend on PUCSL’s review process.
Previous Tariff Reductions
The upcoming revision follows a significant 25% reduction in electricity tariffs for domestic consumers in July 2024, as part of a broader 22.5% cut across all categories. The July adjustment aimed to provide financial relief amidst rising living costs.
Electricity tariffs in Sri Lanka are typically revised quarterly, with the October adjustment delayed due to the PUCSL's current status.
Future Implications
The delay highlights the critical role of the PUCSL in ensuring transparent and timely tariff adjustments. The CEB remains prepared to submit its proposal once the commission is operational, with January 2025 marked as the target for implementing the revised rates.
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