264% increase in electricity tariff

Sri Lanka’s state-owned monopoly has increased electricity tariffs by 264 percent.

A foreign news agency Reports According to the loss-making Ceylon Electricity Board (CEB), for the first time in 9 years, the regulator has allowed an increase in electricity prices to reduce the total losses of $616 million.

Officials said that CEB had sought permission to increase the electricity tariff by 800 percent, but the regulator approved a maximum increase of 264 percent.

Electricity tariff per unit for minimum electricity consumers is 2.5 Sri Lankan rupees, they will be charged 8 rupees per unit, for large consumers the rate per unit will be increased from 45 rupees to 75 Sri Lankan rupees. were given

According to government records, two-thirds of the 7.8 million households using less than 90 kilowatts of electricity per month will be hit the hardest by the increase, while consumers with higher electricity consumption will have to pay about 80 percent more.

Sri Lanka is facing its worst economic crisis since foreign exchange reserves have been depleted, with foreign exchange shortages even for essential imports such as food, fuel and medicine.

It should be noted that the country is facing ‘hyperinflation’ while CEB is experiencing the longest load-shedding of electricity after failing to purchase oil for thermal generators.

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