Minister vows to cut down CEB losses

Shirley WIJESINGHE

New commercial plans will be introduced to control the heavy financial losses incurred by the Ceylon Electricity Board, Power and Energy Minister Partali Champika Ranawaka said.

The CEB net loss amounted to over Rs 391 billion for last ten years, he added. Minister Ranawaka was addressing the media after inspecting the Kerawalapitiya Combine-Cycle Power Plant yesterday.

Ranawaka said that he will probe the causes for the losses and provide solutions. If the CEB will continue in the same vein it will have to face a Rs148 billion loss in next 10 years.

He said the CEB is now running at an operational loss of Rs.17.51 to generate a unit of power. The consumers are provided with a unit of power at Rs13 there by incurring a loss. The total debts of the CEB to others amount Rs 161 billion. The CEB invested over Rs 3,000 million for power generating and distribution projects. However, the Government had decided to go for Coal and Fuel power generating projects to address the future power demand. Although the Kerawalapitiya power project was under criticism , its 300MW capacity had been able to increase the national grid capacity at a considerable level, he pointed out.