March 05, Colombo (LNW): The Public Utilities Commission of Sri Lanka (PUCSL) has officially endorsed the modification of electricity tariffs, effective from midnight yesterday (04), resulting in an overall reduction of 21.9 per cent, announced PUCSL chairman Prof. Manjula Fernando during a press conference held in Colombo yesterday. Prof. Fernando emphasised that the decision was reached following a comprehensive review of proposals and cost data presented by the Ceylon Electricity Board (CEB) regarding the tariff adjustment. This process adhered to the stipulations outlined in Section 30 of the Sri Lanka Electricity Act No. 20 of 2009 and the regulations of the Public Utilities Commission of Sri Lanka. Initially, the CEB proposed a tariff reduction of 3.4 per cent in January, subsequently revising it to 16 per cent in a proposal submitted on February 22. After careful consideration of public feedback and thorough examination of the CEB’s cost data, the PUCSL determined a tariff reduction of 21.9 per cent to be appropriate. Under this revised tariff structure, significant relief is extended to all consumer categories, with a notable reduction of 33 per cent for domestic consumers utilising less than 30 units of electricity. Additionally, consumers falling within the consumption brackets of 61-90 units, 91-180 units, and over 180 units will experience reductions of 30 per cent, 24 per cent, and 18 per cent, respectively. Religious institutions will benefit from a tariff reduction of 33 per cent. Tariffs for general-purpose consumers will be decreased by 23 per cent, while government institutions will witness a reduction of 22 per cent. Furthermore, reductions of 18 per cent, 18 per cent, and 20 per cent will apply to the hotel, industry, and street lamp sectors, respectively. In conjunction with the tariff adjustment, amendments have been made to monthly fixed charges and unit prices across various consumption tiers to reflect the new rates. Additionally, the CEB has been instructed to settle outstanding payments and interest arrears owed to owners of renewable power plants, including roof-mounted solar power plants, by the end of this month. The PUCSL has imposed further obligations on the CEB, including the formulation of plans to achieve renewable electricity generation targets by 2030, with a deadline for submission set for June 30. In conjunction with the tariff revision, the PUCSL has stipulated 13 additional conditions for implementation by the CEB.