Govt. announces plan to appoint dedicated power sector regulator

9 December 2022 09:17 am - 4 - {{hitsCtrl.values.hits}}

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The government plans to appoint a dedicated regulator for the power sector while splitting Ceylon Electricity Board (CEB) into eight separate companies in accordance with the CEB re-structuring plan approved by the Cabinet of Ministers.

Ranjith Siyambalapitiya

“Under the new Electricity Act, a dedicated power regulator will be established with the main objective to protect consumers,” State Minister for Finance Ranjith Siyambalapitiya announced in parliament yesterday.

Currently, the power sector is regulated by an independent multi-sector commission, the Public Utilities Regulatory Commission of Sri Lanka (PUCSL). The regulator recently opposed the electricity tariff proposed for next year by the government.

According to Siyambalapitiya , CEB’s accumulated losses stood at a staggering Rs.304 billion in the absence of a proper electricity pricing mechanism. Hence, he noted that CEB is struggling to settle Rs.147 billion owed to State-owned Ceylon Petroleum Corporation (CPC) and banks.

As per the CEB re-structuring plan, the utility is to be divided into eight companies while one company is to be dedicated solely for renewable power.

Although, all the stakeholders agree on the need to develop renewable power generation, the Minister pointed out that the CEB and the government are not in a position to invest in these initiatives due to the on-going economic crisis.

He noted that the CEB has failed to settle Rs.36 billion worth payments to private sector hydro power, solar and wind power operators over the past two years. Meanwhile, the government is planning to introduce a voluntary retirement scheme targeting only absolutely essential reductions in the CEB workforce while assuring the job security of all employees. Despite short-term difficulties, the Minister stressed that it is essential to make practical decisions for a sustainable economy.

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Comments - 4

Consumer Friday, 09 December 2022 11:36 AM

How is the proposed " Dedicated Regulator" going to be different from the present " PUCSL" ? Why is the PUCSL and the CEB not taking all necessary steps as a first step to recover unsettled bills from Politicians, Officials, Corporate Sector and Government Entities ? Is it because of Politics or DEALS ?

Concerned citizen Friday, 09 December 2022 02:53 PM

Is it because the PUCSL opposed the tariff hike that they are being replaced? Is the government wanting to appoint a regulator who will be just another 'yes' man? Is that what we want of regulators? The reason why increasing the tariffs by 100% is unpopular is because it is sheer lunacy. An example of the impact this will have is on the small retail shops up and down the country. They maybe paying between 10000 and 20000 rupees every month to run their fridges and freezers etc and this will suddenly increase to 20000 to 40000 rupees. These costs will be passed on to the consumer thus increasing inflation yet again. We need a stable government who cares deeply for the people before we can have any kind of stable economy.

An item for Ripley's Believe it or not. Friday, 09 December 2022 05:04 PM

CEB failed to settle 36 billions during the last2 years! Has this amount too has gone into the pockets of Rajapaksa? Has anyone calculated the total damage to the economy of the nation, since the Rajapaksa clan took complete control of the nation? One day "Ripley's Believe it or not" will report this

Terrence K Saturday, 10 December 2022 08:27 AM

This is a way in axing the present Commissioner of the Public Utilities Regulatory Commission who has been an outspoken critique since this commission is independent and transparent. This government is moving towards installing a Puppet who will be the government spokesman and consumers cannot expect any relief with the escalating prices of power which will result in the low income earners high and dry in paying their bills and eventually lead to disconnecting power. This will be one of the last straws affecting the public with every avenue of income and utilities reaching its nadir.

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Govt. announces plan to appoint dedicated power sector regulator

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