Sri Lanka’s electricity tariff rates are still approximately 96% higher on a net average basis since August 2022, when the Government initially implemented the cost recovery mechanism, according to Central Bank data.

According to a report shared by the Department of Economic Research of the Central Bank on LinkedIn, the recent 15% increase in electricity tariffs, following three consecutive downward revisions, has taken electricity prices up by 95.5% from where it was in August 2022.

Electricity prices in Sri Lanka have seen several unprecedented revisions since the cost recovery mechanism took effect in August 2022, hiking prices by 75% in August 2022, a 66% increase in February 2023, a 14% reduction in July 2023, an 18% increase in October 2023, 22% reduction in March 2024, 22.5% reduction in July 2024, and 20% reduction in January 2025.

Also, data showed that the payment that should be paid for the consumption of 90 kWh per month, which stood at Rs. 1800 when the first revision took place in August 2022, has just been reduced by Rs. 80 to Rs. 1,720 with the June revision.

Public Utilities Commission (PUCSL) said that as per the Ceylon Electricity Board(CEB) submitted provisional accounts for the period of January to March 2025, CEB has claimed a financial loss of Rs. 18.4 billion.

The CEB tariff proposal includes a negative revenue adjustment of Rs. 8.2 billion for the period from June to December to reflect the above loss. 

Also, CEB has forecasted sales of 9,329 GWh for the period from June to December, expecting a sales revenue of Rs. 230.7 billion during the six months.