Sri Lanka plans to increase power tariffs in January 2023 through Cabinet approval to offset costs

Sri Lanka plans to increase power tariffs by up to 65 percent in January 2023 through Cabinet approval to offset costs. Sri Lanka’s Power Minister Kanchan Wijesekara has said that his Ministry would seek Cabinet’s approval next week for the price hike.

The Minister added that all religious places would be supplied with a free-of-charge solar power unit generating 5 kilowatts of electricity. These solar power units will be provided within a period of three months, under an Indian credit



facility. Mr. Wijesekara added that three shipments of coal for the Norochcholai coal power plant are expected to arrive by mid-January.

State-run Ceylon Electricity Board had on several occasions this year asked the regulator, the Public Utilities Commission of Sri Lanka to hike rates. This year Sri Lanka faced its worst-ever economic crisis since its Independence in 1948 and was left unable to import fuel and coal resulting in power cuts of up to 13 hours.