Cabinet approval was granted for a cost-reflective electricity tariff revision, Minister of Power and Energy Kanchana Wijesekera said on Thursday (16).
Addressing the media today, the minister said according to the law electricity tariff can be changed twice a year, once in January and then in July.
“We proposed that a review must be done during this period and based on the requirements then revise tariffs. If we had increased tariffs as proposed in January, then we were looking at reviewing the progress in July and granting concessions within the tariff revision,” he explained.
Minister Wijesekera said within this period measures were to be taken to create an environment for new investors to enter Sri Lanka’s energy sector.
“We can judge the actual situation by July and the PUCSL can see if it can reduce electricity tariffs and provide a concession. I believe, based on the situation by July the next tariff revision may not see an increase.
Minister Kanchana Wijesekera added that the government is aiming at providing relief to the public through the next tariff revision.