Colombo, January 19 (ECONOMYNEXT: Sri Lankan power regulator Public Utilities Commission of Sri Lanka’s (PUCSL) higher projected surplus of 44 billion rupees (US$ 148 million) helped the independent body for 20%t reduction electricity tariffs from January 17, against a proposal by state-owned Ceylon Electricity Board (CEB) to maintain the same price, officials said.
The PUCSL has the authority to decide the prices, as per law.
The CEB’s request to maintain the same tariffs for the first six months of 2025 comes with its projection of only 2.3 billion rupee (US 7.7 million) surplus in the period.
“But the PUCSL’s assessment showed there could be a 44 billion surplus in the first six months and we decided that the benefit of this surplus should go to the public,” Jayanath Herath, director at the PUCSL’s Communication Unit, told reporters at a media briefing on Friday.
“The price reductions are not recommendations, but the final decision.”
Herath said the assessments were based on last year’s numbers.
After the CEB proposal to maintain the price levels, the PUCSL initially recommended a 11% average price reduction.
However, the average price reduction of 20% came after the Commission went for public consultation in all nine provinces across the country.
Hearth said the CEB could make a break even at the reduced prices.
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