Oct 04, 2016 (LBO) – Sri Lanka’s Power Ministry has informed the Public Utilities Commission that they are not expecting to increase electricity tariffs to cover up a possible increase of cost.
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The cost of electricity production for the six month period starting from this month is expected to increase due to drought and special conditions.
“Final policy decision has to be taken by our ministry,” the Power Ministry said in a statement.
“We have already informed PUCSL that we are not expecting to increase electricity bill in any manner.”
The Ministry who is the authoritative body responsible for the decision has not yet revealed any detail as how to cover up the expected cost increase.
State-run Ceylon Electricity Board has proposed to the power regulator to approve a tariff increase or a subsidy through the budget to ensure financial viability of the sector.
“We shall be thankful if you could take early action to approve the final end-user tariff to realize the revenue shortfall,” the CEB letter said.
“If the proposed increase is not granted, ensure from the government that the subsidy required will be returned through the forthcoming government budget.”
The Public Utilities Commission earlier requested an End User Tariff proposal from CEB for the period October 2016 to March 2017 to recover an estimated revenue shortfall of 5 percent.
Related: Sri Lanka’s CEB proposes tariff increase or subsidy to cover revenue gap
Sri Lanka’s Power Ministry rules out electricity tariff increase
