Sri Lanka’s CEB owes Rs26bn to renewable IPPs
ECONOMYNEXT – Sri Lanka’s state-run Ceylon Electricity Board owes renewable power producers 26 billion rupees for power provided since August 2021, Energy Minister Kanchana Wijesekera said and a subsidy from tax payers is also expected, he said.
“We have started working on the finances from last month,” Minister Wijesekera told parliament on June 07.
“At the moment we are paying 100 million rupees daily to renewable power suppliers.
“The CEB has not paid since August 2021.
The Public Utilities Commission of Sri Lanka has not given a price increase to the CEB for around 7 years.
Prime Minister Ranil Wickremesinghe has now promised money from the Treasury, which has been using printed money from the central bank, triggering forex shortages.
“Prime Minister Ranil Wickremsinghe has given priority to get money from the Treasury to pay these suppliers,” Minister Wijeskera said.