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Message: <blockquote data-quote="lkdood" data-source="post: 11231789" data-attributes="member: 92282"><img src="http://farm4.static.flickr.com/3192/2606356245_a9147e0ea2.jpg" alt="" class="fr-fic fr-dii fr-draggable " style="" />Power and Energy Minister of Sri Lanka  Champika Ranawaka says the losses incurred by the main energy supplier  of the country, Ceylon Electricity Board (CEB) estimated at Rs. 29  billion at the beginning of the year are likely to increase due to the  current financial crisis at the institution.   The CEB is currently facing a severe financial crisis due to the  increase in thermal power generation brought about by the decline in  hydropower generation due to lack of rains.   Ranawaka said the CEB operated without any subsidies from the  government and would therefore have to operate by increasing its bank  overdrafts.   He said that the CEB has however managed to reduce costs and losses  in some areas through efficient management, but has incurred massive  losses in the power generation process.   According to Ranawaka, the Public Utilities Commission that  regulates electricity tariffs has been informed of the CEB's financial  situation.   He said the options to address the situation was to revise  electricity tariffs or for the Treasury to subsidize the energy sector  or to shed power. CP</blockquote>

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