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Sunday February 5th, 2023
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Sri Lankans face around 65% tariff hike on top of a similar price hike last year
Sri Lanka sees new anti-government protest amid high cost of living, taxes
Parliament last year amended a law to liberalize the lubricant industry which was controlled by the loss-making CPC
To revise the rates a public hearing is required which take a minimum of 45-days
CEB agreed for uninterrupted power supply until February 17.
Sri Lanka has been implementing intermittent power cuts since March last year
Sri Lanka faced 13 hour power cut in March this year after the govt could not import fuel
As directed by PUCSL, CEB Board of Directors & Trade Unions have agreed to forego bonus for the year 2022
Power regulator chief has been opposing many moves by power minister
Sri Lanka has been in deal for LNG plan since 2000, but successive govts have failed to finalize deals
A new electricity act will be enacted
"Most CEB unions and senior management agree that a revision is needed," he said.
Prices of all other fuel were kept unchanged
Sri Lanka's cooking gas distribution is gradually recovering after shortage in mid 2022.
Wijesekara did not provide a breakdown of this unit cost.
The proposal that was presented was for an automatic cost reflective tariff mechanism
| Latest | Last | |
|---|---|---|
| US Dollar | 371.7127 | 371.6601 |
| UK Pound | 453.5962 | 453.9794 |
| Euro | 396.3156 | 396.4763 |
| Aus Dollar | 250.1862 | 251.1981 |
| Yen | 2.8251 | 2.7549 |
| Latest | Last | |
|---|---|---|
| Indian Rupee | 4.3961 | 4.3963 |
| Korea Won | 0.2820 | 0.2791 |
| Oman Rial | 943.2237 | 943.2268 |
| Saudi Riyal | 96.7270 | 96.7115 |
| UAE Dirham | 98.8729 | 98.8786 |
| pts | % | |
|---|---|---|
| S&P SL20 | 2,653.84 | -1.51% |
| CSE All Share | 8,420.26 | -1.04% |
| Turnover Rs million | 4,621,153,484 | 2,824,714,520 |
| Latest | Last | |
|---|---|---|
| 3-m bill | 31.03 | 31.03 |
| 6-m bill | 29.57 | 29.60 |
| 12-m bill | 28.41 | 28.41 |
| 5-yr bond | 27.49 | 27.57 |
| 8-yr bond | 27.44 | 27.23 |
| today | yesterday | |
|---|---|---|
| Overnight Money | 15.50 | 15.50 |
| Gilt Repo | 15.50 | 15.50 |
| I-m SLIBOR | - | - |
CPC sells overpriced fuel, high demand projections require more expensive liquid fuel
"I will discuss this at the cabinet meeting and also take it up with the Ministry of Power & Energy."
They are paying about 385 plus rupees per litre for furnace oil
Water levels down, fuel costs up
Electricity Reforms Bill will be drafted within a month
If after raising prices in January, costs fall in July due to renewables, then we can lower the price
It is after nine years that the prices were revised
“As our president put it, when the elephants fight, it’s the grass that gets trampled."
Admin measures usually could include rate ceilings
Owes CPC and IPPs Rs148bn and banks Rs168bn
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