Reply to thread

Message: <blockquote data-quote="lkdood" data-source="post: 12091198" data-attributes="member: 92282">Electricity bills are also likely to increase because the Ceylon  Electricity Board (CEB) is unable to absorb Saturday’s massive fuel  price increase, the Power and Energy Ministry said yesterday. Secretary M.M.C. Ferdinando told a media conference the CEB would have  to bear an additional Rs.40 billion annually on top of the estimated  loss of Rs.30 billion for this year. “The maximum loss we can manage is around Rs.40 to 50 billion a year.  The annual estimated loss for this year is Rs.30 billion. With the  recent fuel price hike we will have to incur an additional loss of Rs.40  billion which is impossible for the CEB to absorb. We have submitted  these particulars to the Public Utilities Commission of Sri Lanka  (PUCSL) to decide whether the electricity rates have increased or to  recommend to the Treasury to absorb the additional burden,” Mr.  Ferdinando said. He said it will take a few weeks for the PUCSL to make a decision, as the particulars were only submitted yesterday. Mr. Ferdinando stressed that even before the fuel price hike the CEB sold power at a huge loss. In 2010 the CEB’s expenditure was Rs.179.5 billion with a fuel bill of  Rs.87 billion while the income was only Rs.146 billion which meant a  loss of Rs.32 billion. The CEB’s estimated expenditure for this year is Rs.219 billion with an  estimated loss of Rs.70 billion as a result of the fuel price hike. The  PUCSL will have to come up with a tariff hike or if not, a relief  formula for the CEB which is not practical, Mr. Ferdinando said.DM</blockquote>

Verification: Nawa warak dahaya keeyada? (Namaya wadi kireema dahaya)

Top Bottom