The Public Utilities Commission (PUCSL) Chairman Janaka Rathnayake said yesterday that the electricity tariff should be reduced by 30%.
Addressing a media briefing yesterday, he said considering the reduction in demand for electricity, the depreciation of the dollar and the reduction in the cost of fuel and coal, the electricity rates should also be brought down accordingly.
“Compared to the first quarter of the year 2022, the electricity demand has decreased by 18% in the first 3 months of this year. Due to the decrease in electricity demand, the cost of electricity generation and supply also decreases. Therefore, it is now clear that the electricity demand estimated by the Ceylon Electricity Board for this year is incorrect,” he said.
“The estimate made by the PUCSL is correct. Because of such low demand, we have recommended a 35% fare hike. But without understanding this situation, the majority of the members of the commission approved the 60% tariff increase requested by the Ceylon Electricity Board (CEB).
Instead of the electricity demand estimated by the CEB, there is a lower demand. Therefore, the cost of power supply should come down,” Rathnayake said.
The PUCSL Chairman pointed out that the benefits of the reduction in the prices of coal, fuel oil, naphtha, and diesel used for electricity generation should be given to the consumer immediately. (Chaturanga Pradeep Samarawickrama)
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