The institutional sector is being bluntly shocked by the proposed increase in the electricity tariff - business news -

The institutional sector is being bluntly shocked by the proposed increase in the electricity tariff – business news –

  • The Minister of Energy proposes a rapid campaign to generate renewable energy to overcome the current energy crisis
  • Industrial and commercial sectors are being asked to go for rooftop solar solutions, which are still costly
  • The Minister of Energy says that the current monthly cost of power generation exceeds 100 million US dollars

The proposed changes in electricity tariffs could triple the monthly electricity bills of the broader industrial and commercial sectors at a time when they are scrambling to even stay afloat with weak business incomes and high costs decimating their desire to keep operating.

However, according to Energy and Energy Minister Kanchana Wijesekera, the rooftop space can be used for rooftop solar generation, a capital-intensive endeavor but one that can be financed using what it saves from the current monthly electricity bill.

“They can invest the amount of their current electricity bill on solar panels that is paid monthly to solar companies to lighten the burden on their institutes as well as the CEB network,” Wijesekera said in a series of tweets. Rapid plan to generate renewable energy.

In a two-pronged approach to address the current energy crisis, Wijesekera proposed converting the energy of the institutional sector, including the government sector, to rooftop solar, as well as to speed up the approval process for green energy projects.

“Temporary approvals are granted immediately for the proposed projects. Reasonable review rates,” he said.
He added, “After the provisional approval is issued, work with CEB, SEA and investors to enhance the capacity of transmission lines and networks with the required investments coming from the project investor.”

However, it is often accused that the mafia operating within the Ceylon Electricity Board (CEB) has prevented rooftop solar generation from taking off, while renewable energy projects have been delayed due to alleged inefficiency, corruption, bribery and delay tactics used by authorities inside and outside the power and energy sector.

“Apart from the two quick steps, large-scale investments for selected renewable projects will be absorbed after technical and financial evaluation,” the minister said.

Sri Lanka was forced to impose daily blackouts from mid-February after the government ran out of dollars to pay for fuel imports for thermal power generation to make up for cheaper hydropower that ran out due to the long dry weather.

However, with the arrival of the rainy season from May onwards, increasing hydropower generation capacity, the reliance on thermal energy gradually decreased, enabling the authorities to reduce the blackout to a few hours.

As the country’s power generation is highly dependent on its climatic conditions, and the cost of thermal power generation is expensive and made almost impossible by the dollar shortage facing the country, the focus has now shifted largely to renewable energy, mostly through solar power due to the dry weather in the country. Throughout the year.

According to Wijesekera, the monthly cost of power generation currently exceeds $100 million and the average unit cost has risen to Rs 48, causing CEB to lose out on every unit it sells.

This was reflected in the interim results for the month of March of the CEB, which incurred huge losses at the level of gross profit.
Under successive governments, Sri Lanka has subsidized the facilities as a vote-buying gimmick, but now chickens roam every home as the country’s economy plunged sharply in March and then declared bankruptcy in April.

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