Electricity tariffs will go up by five percent come-what-may in October, though Cabinet has yet to debate the issue, CEB officials said. "Prices will definitely go up by at least five percent in October. The proposal is now pending Cabinet approval," said a CEB top brass.
The long suffering local utility was clamouring for a tariff increase to ease its below cost operations since early this year.
However, even a very recent proposal to increase tariffs by 20 percent by September didn’t meet government approval.
"A Cabinet paper to increase electricity rates was submitted to Cabinet on Wednesday but was stopped," said Small Rural Industries Minister K B Lalkantha on Thursday.
But the CEB is confident of a five percent tariff increase in October.
Although well below requirement, the mild tariff hike will lighten CEB’s operating burdens that will reduce further in September when expensive supplementary power contracts end.
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The last electricity tariff revision was two years ag