Sri Lanka’s CEB loses Rs18.6bn up to April

July 01, 2014 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board has lost 18.9 billion rupees in the first four months of 2014, amid higher thermal generation, a finance ministry report said. CEB started operating a second coal plant and a third 300 MegaWatt generator is expected to begin testing later this year.

The report said increased coal power generation would reduce losses in the future.

Global coal prices have also plummeted in the wake of higher natural gas production in the US with ‘fracking’ technology though Asian natural gas prices are still high.

In Australia higher cost some mines are closing due to low prices and also high energy taxes.

The CEB had to sharply increase thermal power generation due to a drought. Ceylon Petroleum Corporation had made a 2.0 billion rupee operational profit.