The Government has announced its commitment to implementing a long-term plan to reduce electricity tariffs over a three-year period, despite the Ceylon Electricity Board (CEB) seeking a 13.56% increase in tariffs for the second quarter of this year.

Deputy Minister of Finance Anil Jayantha Fernando stated yesterday (15) that temporary fluctuations in power tariffs may occur, but the government remains focused on its promise to lower costs through strategic measures. 

He explained that electricity tariffs are currently determined based on a methodology designed to recover the costs of power generation, which need to be reduced to achieve lower tariffs.

Fernando emphasized that the government’s long-term plan aims to lower generation costs over the next three years, thereby reducing electricity prices for consumers.

He mentioned that a mechanism has been introduced to benefit low-income and special categories of electricity users, such as religious institutions, offering them rates below the actual generation costs.

Responding to queries, the Deputy Minister noted that fluctuations in power tariffs could happen due to variations in power sources, which impact generation costs.

The CEB has submitted a proposal to the Public Utilities Commission of Sri Lanka (PUCSL) seeking the proposed 13.56% increase for the upcoming quarter.