New Electricity Bill endorsed by the Speaker
June 28, 2024 09:45 am
The new Sri Lanka Electricity Bill, which was passed in Parliament three weeks ago, has received endorsement from the Speaker of the Parliament yesterday (27).
Accordingly, the new Act comes into effect from yesterday (27).
This landmark legislation aims to implement comprehensive reforms in Sri Lanka’s electricity industry.
Key provisions of the bill include the establishment of the National Electricity Advisory Council and designation of the Public Utilities Commission of Sri Lanka (PUCSL) as the industry regulator.
The bill also mandates the creation of corporate entities under the Companies Act No. 07 of 2007 to manage the generation, transmission, distribution, trade, supply, and procurement of electricity.
Additionally, it repeals the Ceylon Electricity Board Act No. 17 of 1969 and the Sri Lanka Electricity Act No. 20 of 2009, marking a significant shift in the legislative framework governing the sector.
