The Public Utilities Commission of Sri Lanka has informed the Cabinet of Ministers of its rejection of the proposal to increase electricity tariffs.
The PUCSL Chairman Janaka Ratnayake reportedly informed of the decision in writing to the Cabinet Secretary.
Ratnayake cited reasons attached to the Electricity Act of 2009.
Ratnayake previously stated that despite Cabinet approval, a retrospective electricity tariff cannot be implemented under existing laws.
The Cabinet earlier this month approved the proposal by the Minister of Power and Energy to revise electricity tariffs, effective 1st of January 2023.
The PUSCL Chairman said he received the Cabinet decision that saw approval granted to the proposal submitted by the Ceylon Electricity Board pertaining to the tariff revision and has informed the PUCSL to engage in consultations with relevant parties and submit revisions before the 15th of February.
Ratnayake said the PUCSL requires 45-50 days for this process, adding that the process of examining the content has already begun.
He added a method of recovering reasonable costs and the method of recovering all costs as stated in the Act will be looked into while discussions are also being held on ensuring a continuous power supply.
