PUCSL nod given for 66% hike in electricity tariff from yesterday

The Public Utilities Commission (PUCSL), on Wednesday (15), approved increasing the electricity tariff by 66 percent from yesterday (15).

Issuing a statement, the PUCSL said that the majority of members agreed to increase the tariff.

The PUCSL, on January 02, received a proposal from the state owned electricity provider, Ceylon Electricity Board (CEB) to increase electricity tariffs by 66 percent to avoid losses.

It took almost six weeks for the PUCSL to come to an agreement.

The CEB made losses of 108 billion rupees (291 million U.S. dollars) in 2022, according to official data.

Sri Lanka raised electricity tariffs by 75 percent in August 2022.

However, the CEB said it continues to make losses and in January 2023, the Cabinet of Ministers authorized another tariff hike.

PUCSL must authorize any tariff changes before they can be implemented.