The Ceylon Electricity Board (CEB), once again, finds itself deep in financial turmoil caught in a vicious cycle of political promises, election gimmicks, and chronic mismanagement. Despite repeated warnings about systemic inefficiencies and political interference, the burden continues to fall squarely on the shoulders of the very public who pay their electricity bills on time.
A growing concern is surfacing: Are Sri Lankans merely paying for electricity, or are they unknowingly footing the bill for institutional corruption, bloated payrolls, and mounting debt?
Before coming to power, the current administration loudly criticized the previous regime for losses in state institutions due to alleged corruption, fraud, and irregularities. But now with control over Parliament, the Presidency, and state institutions, those very promises seem more like empty rhetoric. Do they need municipal and provincial control too, or is the root of the problem far more entrenched?
Even as consumers pay monthly bills and workers receive salaries, the board’s ever-mounting losses—fueled by political manipulation—continue unabated. As one observer noted, “Pouring water into a basket won’t fill it.” Without a scientific pricing model, Sri Lanka’s electricity sector remains a leaking ship.
Pre-election pledges, such as cutting electricity bills by 50% and reducing oil prices by 60%, may have won applause on stage, but they’ve dealt a devastating blow to the structural viability of the CEB. Politicians proudly proclaim, “We reduced your bills!” But few mention the massive hole it ripped into the CEB’s balance sheet—a hole that consumers will likely be forced to patch up later, with bills that could triple.
Experts argue the board must undergo urgent restructuring. A scientifically formulated pricing model tied to actual costs should replace politically driven pricing. Without it, sudden tariff hikes, inevitable to cover recurring losses will shock both households and industries.
Furthermore, Sri Lanka must immediately accelerate investment in renewable energy and restructure the CEB under a holding company governed by an independent regulatory authority. Leaving it under the grip of politics, critics warn, will ensure the board continues hemorrhaging money and public trust.
Unless bold steps are taken now, the country risks repeating this fatal mistake again and again.
