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CEB loses Rs. 250 m daily

28 Sep 2020

  • High electricity production cost blamed
  • Need for low-cost electricity production
By Maheesha Mudugamuwa The Ceylon Electricity Board (CEB) is incurring a loss of around Rs. 250 million per day due to higher electricity production cost, The Morning learnt. Speaking to The Morning, CEB Chairman Eng. Vijitha Herath said the annual loss of the CEB is around Rs. 85 billion. “The CEB incurs a loss as it sells a unit at around Rs. 16 while the production cost is around Rs. 23,” he said, adding that from each and every unit it produces using diesel, the CEB incurs losses. To reduce these losses, it should go for low-cost electricity, the CEB Chairman said. “We are finalising the LNG projects and several other low-cost electricity projects. Unless we commence such projects, the losses incurred by the CEB cannot be reduced,” he stressed. Furthermore, he said the reason for the delay in commencing low-cost power plant constructions was due to the delay in procurement processes, adding that at the present documentation speed, it would take another year to finalise the construction of the power plants.

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