Rs. 35 b overdue saddled sustainable energy sector warns of bankruptcy

Thursday, 27 October 2022 03:39 - - {{hitsCtrl.values.hits}}

Pic by Pradeep Pathirana

The sustainable energy sector yesterday warned of bankruptcy due to the non-payment of Rs. 35 billion in dues by the Ceylon Electricity Board.

Employees in the sector yesterday staged yet another protest in Colombo demanding immediate settlement of dues.

The sector accounts for 13% of the country’s energy supply.

Protestors told the media it was said that even though there was an agreement to settle the dues it has only remained on paper. As the power is supplied to the grid at far below the selling price and for which the monies have been collected by the CEB from its customers giving a very high profit. Despite this fact of having collected the money for the power supplied the CEB still does not pay the dues to the sustainable energy suppliers.

They warned that further delay in payment would lead to the collapse of sustainable energy industry leading to job losses and investments jeopardising cost-efficient future power supply.

“We are however closely monitoring as to what authority the actions of the sub-committees that are apparently exceeding their authority in the action taken over the energy suppliers in this matter,” industry employees said, urging the relevant authorities to reach an early settlement.

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