Sri Lanka regulator starts power price revision process

Jan 24, 2013 (LBO) – Sri Lanka’s power regulator has kicked off a process to revise tariffs saying it has received cost estimates from the main state-run transmission and distribution licensee. Regular energy price revisions based on a rule of law allows the exchange rate to strong and inflation low. A depreciating exchange rate destroys the real value of wages as well as lifetime bank savings deposits.

Power minister Champika Ranawaka earlier this week called for a price formula for both power and petroleum.

The Public Utilities Commission of Sri Lanka said in a statement Thursday the state-run Ceylon Electricity Board had filed estimated cost of 268 billion rupees.

“The Commission is in the process of assessing these estimates,” the PUCSL said in a statement.

“The Commission will study whether these estimates presented by the CEB are compiled in line with the approved tariff methodology.

“The Commission will also take into account the applicability and accuracy of these estimated costs. Based on this analysis the Commission will revise the estimates of the CEB.”

If the commission decides to revise the tariffs a public consultation will be held and tariffs will b