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 power house not to remove fuel adjustment surcharge
Sun, Apr 27, 2014, 07:59 pm SL Time, ColomboPage News Desk, Sri Lanka.

Apr 27, Colombo: Sri Lanka's state-owned power monopoly, Ceylon Electricity Board (CEB) says it will not remove the fuel adjustment surcharge that was introduced in February last year.

The fuel adjustment surcharge was introduced as a temporary measure and has continued for over one year.

CEB Chairman W.B. Ganegala has told the media that the fuel adjustment surcharge would have to remain unchanged.

"This is because we have to pay back arrears to the Ceylon Petroleum Corporation for fuel supplies, loans taken from state banks and payments due to independent power suppliers," he has said.

Sri Lankan President last year said as the second and third phases of Norochcholai coal power plant, scheduled to be completed by December last year, add thermal power to the national grid, it will be possible for the government to systematically remove the fuel adjustment charges added to the rate increase.

However, the CEB Chairman explained that the breakdowns at the Norochcholai thermal power plants for several weeks led to enhanced production of thermal power.

According to the Chairman, a fuel adjustment surcharge refund, at least in part, would be possible if hydropower generation increased.

The temporary fuel adjustment surcharge has doubled CEB profits last year - the surcharge earned it Rs. 25.43 billion and its profits for last year stood at Rs 21.09 billion.

** Related Story :: Electricity tariff revision is temporary, Sri Lankan President assures

ColomboPage - Recent 10 Stories
Is the rise in VAT a tax on jobs?
-- [1 minutes ago]
Sri Lanka's Missing Persons' Office lack consultations with the families of missing - HRW
-- [17 minutes ago]
Sri Lanka's Task Force on Reconciliation Mechanisms extends deadline for submissions from public to 24th June
-- [46 minutes ago]
Ceylinco Life Fund crosses Rs.70 billion in just 28 years
-- [1 hour and 8 minutes ago]
PM requests report from Eastern Province CM over the dispute with Navy
-- [1 hour and 30 minutes ago]
Sri Lankan court further remands former senior police officers involved in rugby player's death
State Defense Minister slams Eastern Province Chief Minister's tirade on a naval officer
Sri Lankan, Indonesian leaders talk investment opportunities
Cabinet approves implementing ministerial Committee's recommendations on prevention of child abuse
Yoshitha Rajapaksa issued notice to appear in Court on June 16 over land issue

Copyright © 2000, 2014 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.