New SL Electricity tariff revision with 3.34% reduction enforces by end-February
By: Staff Writer
January 29, Colombo (LNW): 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.
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.
The Ceylon Electricity Board (CEB) says it has submitted the necessary data supporting the proposal seeking electricity tariffs revision to the Public Utilities Commission of Sri Lanka (PUCSL).
Based on CEB’s analysis, a surplus of Rs. 23,730.9 million is estimated. The CEB says the surplus can be used for the reduction of average tariff by 3.34%.
Electricity tariffs in the domestic category for consumers using less than 30 units is thus proposed to be reduced by Rs. 1, to Rs. 11 per unit. Meanwhile, the fixed charge for the first 30 units consumed is proposed to be reduced to Rs. 165 from Rs. 180.
Furthermore, the tariff charged per unit for the units consumed between 31-60, which currently stands at Rs. 30, is proposed to be reduced to Rs. 27. The fixed charge for this category is suggested to be brought down to Rs. 360 from Rs. 330.
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.
