The Hon. Kumara Jayakody - Minister of Energy

¶ 01 Mr. Speaker, those who passed time without proper price revisions between 2014 and 2024, without servicing debts and withholding payments due to generators, are the ones talking now. We are settling all that. As at July 2024, the average price was Rs. 37; we have brought it down to Rs. 29. You cannot lower prices like turning a switch. If you have basic knowledge, you know we cannot sell cheaper unless we buy cheaper. You then ask why we lowered renewable purchase prices. This is a buying-and-selling business: unless we reduce the purchase price we cannot reduce the selling price. Even now our average purchase cost is close to Rs. 30 while selling at 29. We will keep reducing from 37 to 29 and towards 25.

¶ 02 As for port-of-landing pricing for petroleum: given global market conditions, you cannot price at landed cost alone—there are distribution and other costs. If you think otherwise, you lack basic understanding. We are here to serve the people without profiteering, and remain unmoved by mafias—be it oil, solar or wind. The people understand this. Last month, though there was a risk of needing to increase fuel prices, we absorbed the loss and did not raise by even 5 cents, given the situation. We will continue to act for the people.