The Ceylon Electricity Board (CEB) is preparing to submit a fresh proposal to increase electricity tariffs to the Public Utilities Commission in the coming days, following an unexpected financial nosedive.
Although the proposal was initially due last Friday, delays have pushed the submission to this week, with officials now treating the matter as urgent. If approved, the revised electricity tariffs could come into effect as early as June, placing added pressure on households and businesses already grappling with high living costs.
The push for higher tariffs follows a startling financial update from the CEB a staggering loss of over Rs. 18 billion in the quarter ending March 2025. This sharp downturn comes on the heels of five consecutive quarters of profitability, including a notable Rs. 84 billion profit in the first quarter of 2024.
The dramatic swing from profit to loss raises questions about cost management, operational inefficiencies, and broader systemic issues. As the country braces for potential rate hikes, consumer advocates are expected to challenge the justification, especially given the recent history of profit margins.
With the proposal now imminent, the Public Utilities Commission’s decision in the coming weeks could define the trajectory of Sri Lanka’s energy costs for the rest of the year.
