PUCSL refuses to accept tariff hike, says CEB doesn’t incur huge loss

The Public Utilities Commission of Sri Lanka (PUCSL) today said that they cannot accept the proposed electricity tariff hike and said the Ceylon Electricity Board (CEB) is not incurring a huge loss over the past few years.

While accepting the public petition signed by 6.9 million electricity consumers at his office, PUCSL Chairman Janaka Rathnayaka said today that at least Rs. 35 billion goes out of the CEB indirectly and the CEB does not incur losses.

The prime reason for the loss was due to the inability to accurately manage Rs. 35 billion. The ordinary tax policy of the country had been violated when taking the decision to increase the electricity tariff.

When valuing one metric ton of coal, there is a US$90 price difference. "There is an error in this calculation," he said.

As a result, the PUCSL has full authority to reject the cabinet decision and announce that the electricity tariff hike based on incorrect values. "The proposal for the electricity rate revision is an illegal decision taken by the ministry," Rathnayaka added.