Hon. Kumara Jayakody
Hon. Kumara Jayakody stated that the Government’s commitment was to achieve and sustainably maintain an approximately 30 per cent reduction in electricity tariffs over three years, rather than respond to short-term quarterly fluctuations. He explained that daily fuel price changes have limited impact because fossil fuel use in generation has declined and coal is procured through annual fixed-price tenders, with logistical constraints limiting midstream adjustments. He reaffirmed the goal of implementing tariff reductions for the benefit of the economy and the public.
Verbatim record (translated)
Machine-translated from Sinhala / Tamil / English¶ 01 There are three aspects. We pledged a 30% reduction over three years, not quarter-to-quarter fluctuations. Our target is to sustainably maintain tariffs at about 30% lower over that period for the benefit of the economy and people.
¶ 02 On fuels, day-to-day variations have limited effect because the current share of fossil fuels in generation has reduced and coal is procured in annual tenders at fixed prices for contracted lots; interim market movements cannot be easily internalized midstream due to logistics constraints. Nevertheless, we are committed to implementing tariff reductions, with a stable 30% reduction within three years as our goal.
Provenance
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- Hansard, Friday, 14 March 2025 ·No. 1744281136023320 ·English daily/uncorrected Hansard
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/lk/speeches/26395
Cite as: Hon. Kumara Jayakody. 10th Parliament, Parliament of Sri Lanka. Hansard, 14 March 2025. No. 1744281136023320. Politick, https://staging.politick.io/lk/speeches/26395