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Ceylon Electricity Board losses to exceed 35 billion rupees this year 
May 30, Colombo: The newly appointed Chairman of the Ceylon Electricity Board (CEB), Vidya Amarapala says that the operational loss of the CEB in 2010 would be something between 34 to 40 billion rupees.
CEB incurred an operation loss of Rs. 7 billion in 2009. CEB is Rs. 52 million in debt to the Ceylon Petroleum Corporation (CPC) for fuel purchased for electricity generation. Both these establishments are state-owned ventures. The senior officials of the CEB and CPC are now holding talks with the Treasury to find a way to settle these bills. Now the CPC is supplying fuel to CEB on the condition that the overdue bills will be settled in 90 days. Monthly fuel bill of the CEB is 2.5 billion rupees. The unit price of electricity is lower than the production cost although Sri Lanka is one of the countries with the highest unit price for electricity in the region. Recently the Power and Energy Minister Paali Champika Ranawaka pointed out that the unit cost of electricity is Rs. 17.52 which includes the cost of generation, transmission and distribution but charging only Rs. 13.11 from the customer. CEB is the biggest drain on Sri Lanka's economy, the Minister has observed.
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