Sri Lanka to reduce Electricity tariffs in January 2024

Since hydropower in Sri Lanka is currently being generated at maximum capacity, the electricity tariffs are likely to be reduced to the previous price during the tariff revision to be held in January 2024, Minister of Power and Energy Kanchana Wijesekera said.

Joining a media briefing taking place at the Presidential Media Centre (PMC) this afternoon (December 19), Minister Kanchana Wijesekera said the previous increase of tariffs in October took place due to the high cost of electricity production under the use of fossil fuels, caused by the dry weather conditions.

“However, the weather conditions have now changed. As we received rainfall during the past two months and the rainfall is expected to continue for two more weeks, the Ceylon Electricity Board (CEB) has informed us that the electricity tariff can be revised. During the tariff revision, the increased tariff can be reduced”, he said.

Accordingly, he mentioned that the government will be able to provide some relief to the people in the next tariff revision in January, 2024 after considering the CEB balance sheets in December, 2023.