Cabinet nod to restructure CEB, revise tariffs rates for renewable energy projects

The Cabinet of Ministers at its meeting yesterday approved the restructuring of the debt-ridden Ceylon Electricity Board, whilst green lighting was also sorted to revise tariff rates for renewable energy projects.

Taking to Twitter Power and Energy Ministry Kanchana Wijesekara confirmed the Cabinet decisions taken yesterday.

He also said that a committee will be appointed to provide recommendations within a month from their appointment on the CEB restructuring plan.

On 29 July, Minister Wijesekara announced the CEB will be restructured, insisting that renewable energy is the way forward. 

“The CEB needs restructuring. I hope to get the approval of the Cabinet to commence the unbinding of the CEB with the generation, transmission and supply to be separated,” Wijesekara opined via a tweet following a progress review meeting of the power sector held last Friday.

During the stakeholder consultation, it was also revealed that the CEB’s accumulated revenue shortfall is at Rs. 477 billion, whilst the gross liabilities are at a staggering Rs. 612.4 billion as of May 2022.