In Sri Lanka, it costs 56.90 rupees to generate a unit of electricity. But till last February, a consumer was charged only Rs 29.14 per unit . Ceylon Electricity Board is an organization that incurs losses of approximately 500 billion rupees annually .
In that situation, the electricity bill was increased by 66% last February. As of today that August 2023, permission has been sought to increase the electricity bill again.
There are 2 main reasons for the losses of the Electricity Board of Sri Lanka
1. Corruption and inefficiency
2. Increase in production cost per unit of electricity
In Sri Lanka 62% of electricity is produced by diesel and coal. It is worthy to note there is a lot of corruptions revolves in purchasing of coal and diesel.
On the other hand, 31% of the electricity is produced by the private sector. Further massive corruptions take place in purchasing electricity from the private sector
Sri Lanka should primarily focus on low cost energy sources. Instead of generating electricity from imported coal and diesel, alternative energy sources such as solar, wind and sea waves should be used.
Sri Lanka’s energy sector is clear racket as well mafia. Because of this situation, Sri Lanka has been recorded as the country that produces electricity at the highest cost in the region. It has a very negative effect on commercial activities.
Facts being so, it should be the responsibility of all parties to provide a sustainable solution to the energy crisis