Energy Ministry to transfer CEB assets to six new companies before Feb. 1

The process of transferring Ceylon Electricity Board (CEB) assets to six newly established companies must be completed before February 1, 2026, the Secretary to the Ministry of Energy, Professor Udayanga Hemapala has notified the CEB.

It is reported that Professor Hemapala has issued the relevant directive in writing to the General Manager of the CEB.

The CEB has planned to implement it under six companies in the future under the restructuring program.

Accordingly, steps are currently being taken to systematically transfer all assets owned by the CEB to the respective companies.

Meanwhile, employees have already been assigned to the newly formed companies, while those unwilling to transfer were given the option to apply for voluntary retirement. 

Consequently, a total of 2,173 employees have applied for retirement.

The Ministry of Energy has instructed the CEB to complete the payment of compensation to the affected employees within the first week of February.

Upon completion of the restructuring process, the Ceylon Electricity Board will be liquidated, and its operations will continue under the six new companies.