Sri Lankan government asked to improve country’s energy security
The government of Sri Lanka has been called on by the Electricity Users’ Association (EUA) to implement measures to improve the country’s energy security, including expediting the Kerawalapitiya LNG power plant as well as fast tracking solar plants that have been in the pipeline since 2016.
The Association has reportedly made critical comments about both the former officials of Sri Lanka’s Power and Energy Ministry as well as the Ceylon Electricity Board (CEB) for failing to implement consistent and practical policies in the past three years.
Issuing a statement, the EUA has explained the reasons they believed had led to the CEB making significant losses and noted that the non-implementation of power plants under general plans had paved the way for emergency power purchases, which in turn was made at the cost of significant public funds.
“The annual loss of the CEB is Rs. 130 billion this year. It is no secret that corrupt deals contributed to this loss,” the EUA has said in a press release.
The EUA has further noted that there would be no electricity shortages in the next three years if the 500+ megawatt capacity generators used by state institutions were added to the national supply, which can be done within a two to three month period.
Sri Lankan President Gotabaya Rajapaksa’s election manifesto had stated that steps will be taken to abolish agreements entered into by the previous government to purchase electricity at high costs, hence the EUA has also suggested solutions to address the existing crisis in the industry.
OSL take:
Sri Lanka is facing a looming power crisis and the authoritiesare looking at sustainable energy generation options as a solution to the crisis. Given the increasing economic activities in the country, the looming power crisis has resulted in the expansion of business/investment opportunities in Sri Lanka’s power and energy sector.
| Article Code : | VBS/AT/03122019/Z_1 |