News

PUCSL chief requests CEB to propose electricity tariff reduction

Published

2 years ago

April 4, 2023

editor

The chairman of the Public Utilities Commission (PUCSL) has urged the Ceylon Electricity Board (CEB) to propose a tariff reduction taking into account the recent developments in the country that drive down the electricity utility.

In a press release, PUCSL chief Janaka Ratnayake listed several reasons as to why the CEB should slash the tariffs.

He stated that, as per actual data for the first quarter of the year, the electricity demand in the country has dropped by 18% in comparison to 2022, explaining that this reduces the reliance on high-cost oil-fired thermal electricity generation.

Apart from the demand, the USD exchange rate too has gone down from LKR 370 per USD to around LKR 325 per USD, which is a 13% reduction, Ratnayake noted, thus noting that this brings down fuel and other import costs of the CEB. “This alone would reduce costs by about 20% per annum.”

In addition to the aforementioned two cost divers, the international fuel prices too have reduced significantly, and as a result, the fuel costs to CEB would reduce significantly. “At present, the Richards Bay Coal index is at 133 USD/MT, Singapore PLATTS for Furnace Oil is 403 USD/MT, Singapore PLATTS for Diesel is 98.38 USD/bbl and Singapore PLATTS for high-quality chemical Naptha is 674 USD /MT.”

In a recent letter to the CEB, Ratnayake requested the CEB to propose a reduced electricity tariff structure capturing all these recent developments by 15 May.

“This is expected to provide much-needed relief to all the consumers, especially the vulnerable Domestic category consumers and the SME sector of the economy,” he said further.

(adaderana.lk)

News

2 Chinese nationals arrested at BIA with gems worth over Rs. 17 mn.

Published

11 hours ago

January 14, 2025

editor

Two Chinese nationals have been nabbed at the Bandaranaike International Airport (BIA) last night (Jan. 13) after attempting smuggle a stock of gemstones out of the country.

The customs officers had apprehended the 45-year-old male and his 21-year-old daughter who had hidden gemstones in their undergarments, reports say.

According to Sri Lanka Customs, he stock of gemstones includes Moonstones, Hessonite Garnets, Star Sapphires, Cats Eyes and Emeralds weighing around 689.5 grams in total and valued around Rs. 17,450,875.

News

100 families in Suduwella village, evacuated

Published

11 hours ago

January 14, 2025

editor

100 families residing in Suduwella village, Gal Oya have been evacuated to safety, District Secretary of Ampara District, Chinthaka Abeywickrama says.
Noting that the Gal Oya is near to breaching its banks, Mr. Abeywickrama has said that the evacuation was done in the face of a possible flood situation.

Meanwhile, the banks of the Gal Oya have been severely eroded in the Kota Vehera area.

News

Samarasinghe blames previous govt. again for red rice shortage

Published

11 hours ago

January 14, 2025

editor

Minister of Trade, Commerce, Food Security and Cooperative Development Wasantha Samarasinghe has yet again blamed the previous government for the current shortage of red rice in the local market.

Speaking to media, the minister criticised a policy implemented by the previous government that distributed 20 kg of red rice to households indiscriminately.

However, he has assured the public that the situation will improve soon and that the supply will normalise in the coming months.

“Red rice is an essential food item, especially during the Thai Pongal celebrations, and we are aware of the anxiety caused by this shortage. Plans are afoot to stabilize supply ahead of upcoming harvests,” Samarasinghe stated.