Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka's state owned power authority to propose a electricity rate hike
Mon, Jan 28, 2013, 12:30 pm SL Time, ColomboPage News Desk, Sri Lanka.

Jan 28, Colombo: Sri Lanka's state owned power authority, Ceylon Electricity Board (CEB), plans to make a proposal to the Public Utilities Commission (PUC) requesting a revision of electricity tariffs.

CEB Chairman Dr. Wimaladharma Abeywickrema has said the proposal would be given to the PUC shortly.

The CEB is expected to seek the tariff revision following the decision by the Ceylon Petroleum Corporation (CPC) to increase the price of furnace oil used for thermal power generation by Rs. 25 a liter.

Abeywickrema has said the CEB is unable to pay the increased amount for the furnace oil.

He has explained that paying the increased amount would result in the CEB incurring an additional loss of Rs. 24 billion this year.

According to Abeywickrema, the only option was to increase tariffs. The CEB currently sells a unit of electricity to consumers for Rs. 17.50 when the cost of generating a unit is Rs. 21.

According to the Central Bank the CEB sustained a loss of 25.5 billion rupees in 2011 and loss of Rs. 45-50 billion is estimated for 2012 due to the increase in thermal power generation when the prolonged drought reduced hydropower generation.



ColomboPage - Recent 10 Stories
Sri Lanka to set up a national action plan to eliminate bribery and corruption
-- [12 minutes ago]
Sri Lanka PM to fully support the implementation of Bond Commission recommendations to recover losses
-- [36 minutes ago]
Sri Lanka sets an export target of US$ 20 billion by 2020
-- [1 hour and 32 minutes ago]
EU welcomes Sri Lanka's continued commitment to reform, urges prompt action on UN resolutions
-- [2 hours ago]
Sri Lanka reinstates ban on women purchasing alcohol and working at liquor shops
-- [2 hours ago]
Prime Minister instructs party members not to criticize the President
Police rescue CEB chairman taken hostage by union, workers launch strike
Sri Lanka to purchase 50 electric buses to improve urban public passenger transport service
Access Engineering successfully completes three flyovers in Sri Lanka
Japan grants an Audio-Visual Studio to the Department of Mass Media at Sri Palee Campus of University of Colombo

Copyright © 2000, 2012 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.