The Public Utilities Commission of Sri Lanka today confirmed that approval has not been granted to increase electricity tariffs.
Chairman Janaka Ratnayake speaking at a media briefing this evening, requested the public to refrain from creating any undue fear that the price of electricity tariffs will be increased at midnight.
Ratnayake said the PUCSL received a request to revise electricity tariffs on the 19th of March by 85% and another proposal on the 21st of April to increase tariffs.
He added the Ceylon Electricity Board income is Rs.276 billion while expenses amount to Rs.505 billion and added expenses amount to another Rs.200 billion, leading to a deficit of Rs.700 billion.
Ratnayake said the rupee being floated and the lack of foreign exchange led to this situation.
The PUCSL Chairman added coal, and diesel used to generate power has risen significantly in the world market.
He said one power unit is Rs.53.
He noted that a metric tonne of coal that was USD 70 is now USD 275.
Ratnayake said a revision should take place, however adding that the government must reach a decision and inform of the concessions that will be granted.
The PUCSL Chairman said depending on the decision by the government, the PUCSL will reach a conclusion on tariffs.
