Thursday Nov 14, 2024
Thursday Nov 14, 2024
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Power and Energy Minister Kanchana Wijesekera
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Power and Energy Minister Kanchana Wijesekera yesterday said the Ceylon Electricity Board will be restructured, insisting that renewable energy is the way forward. He claimed that the CEB has not initiated or commissioned any new major power plants since 2014.
“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,” Wijesekera opined via a tweet following a progress review meeting of the power sector held yesterday.
He also pointed out that tariff adjustments are necessary, and it has to be conducted with a plan to reduce generation costs with more renewable energy.
“Renewable energy is the way forward to revive the power sector, but the attitude towards facilitating such projects is appalling,” he added.
On Thursday, a range of stakeholders called on the Government to reconsider the decision to hike electricity tariffs amidst multiple challenges emanating from the ongoing economic crisis, though implying a preference to shift toward cost-effective renewable energy sources. The stakeholder consultation was convened by the electricity regulator, the Public Utilities Commission of Sri Lanka.
The CEB is now insisting on a full cost recovery tariff hike, noting its financial position is in a dire situation. During the stakeholder consultation, it was also revealed that 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.
