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PUCSL former Chairman Janaka Ratnayake |
Public Utilities Commission of Sri Lanka (PUCSL) former Chairman Janaka Ratnayake yesterday highlighted his efforts to reduce electricity tariffs, criticising the timing of recent tariff cuts.
“Not lowering the electricity tariff at that time was a political decision and lowering it now ahead of an election is also a political decision. However, the tariffs were not reduced then to take advantage of the election time by reducing the tariffs,” he said.
Holding President Ranil Wickremesinghe accountable, Ratnayake argued that the public suffered due to these political manoeuvres.
“Otherwise, if there are other reasons for not lowering the price then and lowering it today, it should be explained,” he pointed out.
He called for a significant reduction in electricity tariffs, citing the substantial profits recorded by the Ceylon Electricity Board (CEB) and an illegal tariff hike in February.
Ratnayake emphasised that the PUCSL should consider slashing electricity tariffs by at least 30%.
“The CEB reported a profit of Rs. 150 billion last year. However, despite this financial gain, the CEB has only proposed a modest tariff reduction of 9.6%,” Ratnayake claimed, arguing that such a minimal decrease is insufficient and unjustified given the board’s substantial profit margin.
“The PUCSL must at least slash the electricity tariff by 20-30%,” Ratnayake stated, stressing the need for a more considerable reduction to reflect the CEB’s financial status and to alleviate the burden on consumers.
The most recent adjustment to electricity tariffs occurred on 4 March 2024, when the PUCSL reduced tariffs by 21.9%. Ratnayake’s call for further reductions highlights ongoing concerns about the fairness and transparency of electricity pricing in Sri Lanka.
Ratnayake’s demand hoped for a decision that balances the financial health of the CEB with the needs of the public.
