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
Sri Lanka celebrates World Labor Day today
-- [4 hours ago]
Northern Province CM issued notice to appear in apex court over NPC resolution - report
-- [4 hours ago]
Sri Lankan PM emphasizes the responsibility of Labor unions to safeguard the rights of the workers
-- [6 hours ago]
Sri Lankan President calls for a firm commitment to make the victories achieved by working people a reality
-- [7 hours ago]
Northern Province CM says a federal system will unite Sri Lanka and not divide
JCI launches BIZMEET 2016 to promote ethical business practices
Biggest threat to media freedom in Sri Lanka is media itself - PM
Tamil Nadu CM seeks Indian PM's intervention to get 34 fishermen released from Sri Lanka
Special security and traffic plan enforced in Colombo and Galle for May Day
Sri Lankan defense delegation to DSA2016 discusses maritime security with Malaysia

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.