The Public Utilities Commission of Sri Lanka (PUCSL) has granted permission for the Ceylon Electricity Board (CEB) to increase electricity Tariffs from today (Oct. 20).

Revised rates, which are slated to be announced later today, will be in place until June 30, 2024.

Last month, the CEB made a request from the PUCSL to increase electricity tariffs once again, citing the need to cover the costs for thermal power generation during the months when arid weather conditions were prevalent across the country.

Accordingly, the CEB had sought an electricity tariff hike in October, which was supposed to be made in January. CEB General Manager Eng. Dr. Narendra De Silva had said the state-owned utility had to bear additional costs for power generation as it was unable to generate an adequate amount of hydropower this year.

According to him, 4,500 gigawatt hours (GWh) of hydropower was expected to be produced, but only 3,750 GWh of hydropower had been produced. Thereby, an additional 750 GWh of electricity had to be produced from thermal power plants, adding that additional costs had to be borne by the CEB as a result.

On October 18, the PUCSL held a consultation on the proposed electricity tariff revision at the BMICH premises to gather inputs of a total of 30 parties including the members of the public and the CEB officials, before deciding on green-lighting the request to increase electricity tariffs.

Thus, the PUCSL has given permission to increase the electricity tariffs from today. The revised tariffs will be in place until June 30, 2024.