CEB records Rs.7bn cash flow

29 December 2015 03:40 am - 2 - {{hitsCtrl.values.hits}}

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The Ceylon Electricity Board (CEB) has recorded a positive cash flow of Rs.7 billion during the first seven months of this year and remains out of red with much of its debts being paid because of the favourable oil prices in the global market, the Public Utilities Commission (PUCSL) said yesterday.

PUCSL Chairman Saliya Mathew said the CEB was now in a position to consider a downward tariff revision in March if the current global prices remain unchanged or drop further.

“We normally evaluate the CEB accounts and market data in March for tariff revisions. Therefore, when the next revision comes up in March we will be able to see the possibility of providing more relief to electricity consumers by way of a tariff reduction. The revision is based on the CEB data on the previous six months. The market trends and other trade factors for the next six months are also taken into account during the revision,” he said.

Mr. Mathew said the phasing out of costly thermal power and the drop in global oil prices had contributed to the CEB’s satisfactory performance.

The CEB purchases power from three Private Power Providers as against 10 suppliers in 2014.

“In 2012, the CEB purchased 41.57% of the total power requirement from private suppliers. The CEB’s hydro power generation was only 23.10% of the total requirement but by 2015, CEB’s hydro power generation increased to 67% or 626 GWh and thermal power purchases have been restricted to a mere .2% which is a huge achievement,” Mr. Mathew said.

He said Private Power Providers ACE – Matara, Lakdhanavi, ACE- Horana, Heladanavi, ACE-Amibilipitiya, Northern Power, and Colombo Power Barge have been shut down with only Asia Power, AES –Kelanitissa and West Coast supply power to the CEB and thus contributing to a reduction in the CEB’s power purchasing bill. (Sandun A Jayasekera)

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Comments - 2

Rizley Tuesday, 29 December 2015 10:19 AM

Good but CEB must not be over optimistic and now is the time to create a seperate Fuel Fund provision so to cushion future oil price increase. via DM Android App

Coconut Republic Tuesday, 29 December 2015 10:22 AM

In fact you should not be reducing the rates but increase the 1st slab of usage. The current excess should be used for further developments and for contengency reserves.

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CEB records Rs.7bn cash flow

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