News Today: New Government to Introduce Consumer-Friendly Electricity Tariff System

The Sri Lankan government is set to introduce a consumer-friendly electricity tariff system, with the Ministry of Power & Energy beginning a comprehensive study to revise the existing formula. The new system aims to ease the burden on consumers by restructuring the tariffs more fairly.

According to Professor Udayanga Hemapala, Secretary to the Ministry of Power & Energy, the goal of this revision is to implement a more equitable pricing mechanism that reflects the needs of households and businesses. The updated tariff formula will be designed to minimize financial strain on the public, considering current economic challenges.

The proposed changes will first be presented to the President, who also holds the portfolio for Power & Energy. Once the President reviews the recommendations, the proposal will be submitted to the Cabinet for further approval. Following Cabinet approval, the revised electricity pricing model will be handed over to the Public Utilities Commission, which will be appointed by the newly elected Parliament.

This effort to revise the tariff system comes amid growing public concern over high electricity costs and the need for a transparent, fair pricing structure. The government’s initiative is expected to address these concerns by promoting affordability while maintaining the sustainability of the country’s energy sector.

Once implemented, the new tariff structure will not only benefit consumers but also pave the way for a more transparent, accountable system in electricity pricing, further supporting Sri Lanka’s economic recovery and development efforts.