Sri Lanka to Install 300,000 Smart Meters Under Time-of-Use Billing Project

Sri Lanka’s Cabinet has approved a two-year project to install 300,000 smart electricity meters equipped with a Time-of-Use (TOU) billing system as part of efforts to modernise the country’s electricity grid and support renewable energy development.

The project will utilise US$12.5 million from a US$15 million loan facility provided through the Asian Development Bank’s concessional financing facility for complementary renewable energy initiatives.

Of the original loan, US$2.5 million was previously approved for preparing the detailed design and procurement documents for the proposed Maha Oya Pumped Storage Hydropower Project. The remaining US$12.5 million will be used for the smart meter programme.

The smart meters are expected to form part of Sri Lanka’s initial smart-grid modernisation measures, while the Time-of-Use billing system is designed to encourage consumers to shift electricity consumption towards periods when demand on the power system is lower.

The Cabinet approved a proposal submitted by the Minister of Energy to have Electricity Distribution Lanka (Private) Limited implement the project over a period of two years.

The decision was taken at the Cabinet meeting held on August 24, 2026, subject to formal adoption at the next meeting.