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Sunday December 10th, 2023

Sri Lanka’s CEB maintains 7.5-hour power cut on Tuesday; Fuel deficit, drought weigh

ECONOMYNEXT –  Sri Lanka’s state-owned Ceylon Electricity Board (CEB) has imposed a power cut up to 7. 5 hours on Tuesday, March 08 with thermal power plants have run out of fuel to generate electricity, however, the utility provider said the situation can change depending on the fuel availability for the day.

Areas E and F will experience power cuts of 5 hours between 0800am to 1800pm and 2.5 hours’ power cuts between 1800pm and 2300pm, a provisional schedule released by the CEB showed.

Areas P,Q,R,S,T,U,V,W will have power cuts up to 2 hours between 0800am and 1700pm and one hour between 1700pm and 2100pm.

The CEB said “there will be extended power cuts throughout the day to limit further hydro drawdown without prior notice” in case of “any thermal plant unavailability other mentioned in the statement.

According to CEB Only Sapugaskanda B, Uthuru Janani and Kelenitissa Combined Cycle power plants have enough fuel to run for 1.6 days, two days and 1.3 days respectively.

Other plants do not have enough fuel to run for another 12 hours.

Even though the CEB has issued the power shedding schedule, the power regulator of the country, the Public Utility Commission of Sri Lanka, has not published any approved schedule by the time of writing.

CEB said there is a power deficit of 398 MW for the day peak, 518 MW for the evening peak and 409 MW for the night peak.

Commenting on the power situation in the country to the reporters on Monday (7) morning, the Chairman of the PUCSL Janaka Rathnayake said, if the authorities can get all the thermal power plants that run on furnace oil, diesel and Naphtha, power shedding can be limited to 1.5 – 2 hours a day for the next 45 days until the rain starts.

“We want to give the electricity to the general public without any power cuts. The decision for the power cut is taken by the CEB according to the hydro, thermal and other power generation capacity they have” Rathnayake told reporters.

“From December 10 till last week, even though the CEB requested for power cuts we gave them the minimum number of hours, but from last week due to the fuel shortage we had to go for longer power cuts.”

He said government authorities are working on getting more diesel in the coming days.

“We got to know that a ship with 30,000 metric tons of furnace oil came to the port and it will start unloading tomorrow night after the initial quality tests are done”

“There will be a reduction in power cuts if we get all the fuel, naphtha, furnace and diesel. Then we can add another 2000-2100 MW to the main grid. If we can manage hydro power to generate only around 4-5 GW per day in the next 45 days, then we can limit the power cuts to 1.5 – 2 hours” (Colombo/ March 7/2022)

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  1. j m virajini says:

    Shedule eka nane

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ADB USD200mn loan for Sri Lanka economic stabilization efforts

ECONOMYNEXT – The Asian Development Bank (ADB) has approved a US 200 million dollar concessional loan to Sri Lanka to help stabilize the country’s finance sector.

The Financial Sector Stability and Reforms Program comprises two subprograms of IS 200 million dollars each, according to a statement by the ADB.

“The program’s overarching development objective is fully aligned with the country’s strategy of maintaining finance sector stability, while ensuring that banks are well-positioned for eventual recovery,” ADB Country Director for Sri Lanka Takafumi Kadono was quoted as saying in the statement.

“The expected development outcome is a stable financial system providing access to affordable finance for businesses in various sectors of the economy.”

The ADB statement continues:

“Subprogram 1 targets short-term stabilization and crisis management measures that were implemented in 2023, while subprogram 2 is planned to be implemented in 2024 and focuses on structural reforms and long-term actions to restore growth in the banking sector.

The program will help strengthen the stability and governance of the country’s banking sector; improve the banking sector’s asset quality; and deepen sustainable and inclusive finance, particularly for women-led micro, small, and medium-sized enterprises.

According to the International Monetary Fund’s (IMF) latest review, Sri Lanka’s economy is showing tentative signs of stabilization, although a full economic recovery is not yet assured.

The program is a follow-on assistance from ADB’s crisis response under the special policy-based loan that was approved for Sri Lanka in May 2023.

It is aligned with the fourth pillar of the IMF’s Extended Fund Facility provided to Sri Lanka to help the country regain financial stability.

It is also in line with the government’s reform agenda, including strengthening the operational independence of the Central Bank of Sri Lanka (CBSL) and its designation as the country’s macroprudential authority.

In designing this subprogram 1 loan, ADB has maintained close coordination and collaboration with the IMF to design targeted regulatory reforms for the banking sector—including the asset quality review—and with the World Bank on strengthening the deposit insurance scheme.

“The loan is accompanied by a $1 million grant from ADB’s Technical Assistance Special Fund to provide advisory, knowledge, and institutional capacity building for Sri Lanka’s Ministry of Finance and CBSL.”

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Sri Lank in blackout as power grid hit by cascading failure

ECONOMYNEXT – Sri Lanka suffered a blackout as Saturday evening as the state-run Ceylon Electricity Board grid was hit by a cascading power failure.

The cascading failure is believed to have been triggered by the failure of the Kothmale-Biyagama transmission line.

“The Ceylon Electricity Board wishes to inform our customers that due to the failure of Kotmale – Biyagama main transmission line, an island wide power failure has occurred,” CEB Spokesman Noel Priyantha said.

“Step by step restorations are underway and it may take few hours to completely restore the power supply.”

With hydro plants running flat out, a outage of the line tends to create a big imbalance in the demand and supply, leading to tripping of more lines and generators.

Lines can trip due to lightening strikes, or equipment failures.

Sri Lanka last suffered a cascading failure in December 2021, due to the failure of the same transmission line.

RelatedSri Lanka power blackout as grid hit by cascading failure

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Sri Lanka to host regional Food and Agriculture Organization conference

ECONOMYNEXT – Sri Lanka will host the 37th session of the Asia Pacific Regional Conference (APRC) of the United Nations Food and Agriculture Organization (FAO), from February 19-22, 2024 in Colombo.

The Conference will bring together agriculture ministers and officials from 46 countries across the region to discuss challenges in food and agriculture.

“The 37th APRC will provide a vital platform for regional collaboration, benefitting the agricultural landscape, fisheries sector and environment of Sri Lanka,” Minister Mahinda Amaraweera said at a press briefing on Friday (8) to announce the conference.

FAO has had an active presence in Sri Lanka for over 40 years. “FAO has supported the country in the implementation of Good Agricultural Practices (GAP), and the development of the fisheries sector for growth and climate resilience,” Vimlendra Sharan, FAO Representative for Sri Lanka and the Maldives said.

“The APRC conference will be an opportunity to highlight the innovative approaches introduced in partnership with the government.”

By hosting APRC, Sri Lanka hopes to demonstrate the country’s dedication to the growth of sustainable agriculture, and showcase its commitment to sustainable agricultural development.

The APRC agenda will include a forum on agritourism, especially requested by the Sri Lankan government.

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