An Echelon Media Company
Saturday April 20th, 2024

Scheduled power cuts in Sri Lanka from Monday amid fuel shortages

ECONOMYNEXT – Scheduled power outages will commence in Sri Lanka on Monday (24), with one-hour manual load shedding Monday evening and two-hour outages starting Tuesday (25), the Ceylon Electricity Board Engineers Union (CEBEU) said.

Consumers will experience an hour’s outagebetween 5.30pm and 9.30pm Monday, according to the following schedule released by the CEB.

Click here to find the areas that come under each group.

Sri Lanka’s ongoing power crisis is due to, among other reasons, a shortage in fuel and furnace oil supply to the CEB’s thermal generation plants by the Ceylon Petroleum Corporation (CPC) amid a forex shortage for imports and insufficient water levels at reservoirs for hydro power generation, on top of a breakdown at the Norochcholai coal power plant.

The CEB said this week’s load shedding is due to a lack of furnace oil and diesel to generate electricity during peak hours.

CEBEU member Eranga Kudahewa said from Tuesday onwards, power will be out for two hours between 1.30pm and 9.30pm every day. It is unclear at present whether this will follow the same schedule released for Monday.

“The Sapugaskanda power plant is completely shut down due to lack of furnace oil. And the barge power plant at the Colombo port only has enough furnace oil to generate electricity for another six to seven hours,” Kudahewa told reporters on Monday.

The Uthuru Janani power station in Chunnakam, Jaffna, has furnace oil for around two and a half days, said Kudahewa, adding that the Kelanitissa plant has enough diesel for another three and a half days.

There is a shortage of 100 megawatts to the national grid during the night peak, according to Kudahewa; hence the manual shedding Monday evening.

“From Tuesday (25), from 1.30pm to 9.30pm, there will be a two-hour power cut due to lack of furnace oil,” he said.

The CEB had initially recommended an hour-and-45-minute power cut in early January, but this was not implemented after the CPC supplied some stocks of furnace oil and diesel to the CEB.

However, due to lack of foreign reserves, Sri Lanka is facing difficulties in obtaining furnace oil and fuel for power generation as well as for daily transport and other consumption of the country.

Meanwhile, Power Minister Gamini Lokuge claimed that there are attempts to purchase more power from Sri Lanka’s independent power suppliers rather than relying on state owned plants.

“We always try to provide electricity without any power shedding,” Lokuge told reporters on Monday.

“What I see is, everyone indirectly trying to say we should depend on the independent thermal power plants. They are not thinking about a way to generate electricity using our own machines,” he said.

The press briefing was held at Lokuge’s residence which was also undergoing a blackout.

The Monday morning outage reported in some areas including his own, he said, was due to a breakdown.

“I discussed this issue with President Gotabaya Rajapaksa today, and the president instructed me to talk to the Central Bank governor to secure funds for furnace oil,” the minister said.

“I have been informed that some furnace oil is still remaining in the power plants that we have shut down. There is around 2,000-25,00 metric tons left. I have asked officials to look in to it and transfer that oil to the power plants that are currently operating,” he said.

Even though the engineer’s union has warned about a power cut, Lokuge said the CEB is trying to manage the situation. However, if a power shedding is to be done, a schedule will be issued, he said at the time.

“We believe the Norochcholai power plant that runs on coal will be fully operational again from January 25 onwards,” he said. (Colombo/ Jan 24/2022)

Comments (1)

Your email address will not be published. Required fields are marked *

  1. . Mishell says:

    This is the stupidest thing that I have ever seen you need to come to times and learn about power plants or get more intelligent people to fix this I worked in mini of power plants and never seen the stupidpetdy I see here. We have hurricanes and still have power here it rains you loose power wake up Srilanka

View all comments (1)

Comments (1)

Cancel reply

Your email address will not be published. Required fields are marked *

  1. . Mishell says:

    This is the stupidest thing that I have ever seen you need to come to times and learn about power plants or get more intelligent people to fix this I worked in mini of power plants and never seen the stupidpetdy I see here. We have hurricanes and still have power here it rains you loose power wake up Srilanka

Sri Lanka discussing giving extra land, water for Chinese oil refinery

ECONOMYNEXT – Sri Lanka is in discussions with China’s Sinopec to give extra land and assure water supplies after the company decided to expand the capacity of a planned oil refinery in Hambantota, Energy Minister Kanchana Wijesekera said.

“There are concerns on how the water supply is going to be provided for the refinery,” Minister Wijesekera told reporters Friday.

The refinery will need more land and also revise conditions in a Board of Investment agreement, he said.

Read more
Sinopec to double capacity of new refinery in Sri Lanka’s Hambantota

Recommendations and decisions from Sri Lanka’s side had already been sent and Sinopec is expected to revert back in May.

“We are hoping to sign the agreement once everyone has agreed,” Wijesekara said.

The principle agreements are expected to be signed by June, he said.

The refinery could sell up to 10 percent of its output in the domestic market.

“There is no commitment by the government to purchase anything,” Minister Wijesekera said. (Colombo/Apr19/2024)

Continue Reading

Sri Lanka rupee closes weaker at 302.00/50 to the US dollar

ECONOMYNEXT – Sri Lanka’s rupee closed at 302.00/50 to the US dollar in the spot forex market on Friday, down from 301.50/302.00 a day earlier, dealers said.

There was increased demand for dollars after the central bank bought 715 million dollars from forex markets. In the previous two months it was buying on average about 200 million US dollars, leaving market participants and bank in a ‘oversold’ position.

There were some official dollars sales Friday dealers said.

READ Sri Lanka rupee quoted wide to US dollar as peg inconsistencies flare up

Bond yields were broadly steady.

A bond maturing on 15.12.2026 closed at 11.30/40 percent down from 11.35/40 percent.

A bond maturing on 15.09.2027 closed at 11.95/12.05 percent up from 11.90/12.05 percent.

A bond maturing on 15.12.2028 closed stable at 12.15/25 percent.

A bond maturing on 15.09.2029 closed stable at 12.30/40 percent.

A bond maturing on 01.10.2032 closed stable at 12.40/50 percent. (Colombo/Apr19/2024)

Continue Reading

Sri Lanka stocks close down, banks trade down

ECONOMYNEXT – The Colombo Stock Exchange closed down on Friday, data on its site showed.

The broader All Share Index closed down 0.38 percent, or 44.80 points, at 11,753; while the S&P SL20 Index closed down 0.53 percent, or 18.46 points, at 3,456.

Turnover was at 1.4 billion. The diversified financials (Rs366mn) and banks (Rs266mn) sectors continued to see selling pressure.

“This was possibly due to uncertainty around the bond discussions,” market participants said.

With the exception of Sampath Bank Plc (up at 77.50) all other banks traded down in the day. Commercial Bank of Ceylon Plc was down at 104.50, Hatton National Bank Plc was down at 188.50, and DFCC Bank Plc was down at 77.00.

LOLC Finance Plc saw the most trades and closed up at 6.40. Another LOLC company, Browns Investments Plc, also saw high traded volumes and closed up at 5.60.

Softlogic Capital Plc was up at 7.00, and Softlogic Holdings Plc was up at 11.20. A trading suspension imposed on SHL.N0000 was lifted effective today as the company submitted the annual report for the year ended 31st March 2023.

However, shares of the Company will remain in the Watch List “due to Qualified Audit Opinion and Emphasis of matter on going concern in the Independent Auditor’s Report in the Audited Financial Statements for the year ended 31st March 2022.”

Dialog Axiata Plc, which announced its merger with Bharti Airtel Thursday, saw its share price close up at 11.90.

“There was some traction on index heavyweights,” market participants pointed out.

Top contributors to the APSI included Aitken Spence Plc (up at 134.50), Ceylon Tobacco Company Plc (up at 1,245.25, and Lion Brewery (Ceylon) Plc (up at 1,048.50).

There was a net foreign inflow of 5 million. (Colombo/Apr19/2024)

Continue Reading