Windfall profits for a few: Electricity costs to increase further

The above-captioned article with facts and figures by an Energy Pricing Expert Dr. Tilak Siyambalapitiya was interesting and one statement which caught my attention was ‘ The new renewable energy contracts are signed at Rs.37/- a unit or more’. It should be mentioned here, the previous government under then President Gotabhaya Rajapaksa, signed an agreement with an Indian company – Adani to buy a unit of electricity at US dollar cents 14.6 which in Sri Lanka cost around  Rs.50/- from the Wind Farm proposed  at Mannar, Mind you, this agreement was signed, post haste without the knowledge of CEB or the Ministry for Power and Energy, for reasons left to be guessed. The question arises whether other private suppliers of wind energy would demand the same rate, which is very likely.

G. A. D. Sirimal
Via e-mail