Chairman of the Ceylon Electricity Board MC Ferdinando says the CEB is facing a financial crisis at present.
Speaking during a media briefing organized by the President’s Media Division, regarding the Yugadanavi Power Plant, Ferdinando said electricity tariffs will have to be increased if profitable power generation methods are not used.
He said the CEB faced a similar crisis in 2006, regarding power generation.
He noted by 2014 it was resolved and the CEB was able to generate power and supply power to the public at concessionary rates.
Ferdinando added that while the demand increased, the supply was also increased to 99 percent from 55 percent, and that is how the crisis was resolved.
He claimed however the CEB is facing a serious crisis at present.
He noted a unit of electricity is being sold at Rs.16 and 65 cents, while the cost is between Rs.23 and 24.
He claimed the cost will be Rs.25 by next year, because coal which was imported at USD 55 per metric tonne is now over USD 180.