CEB, CPC make operational profits
The Ceylon Electricity Board (CEB) and Ceylon Petroleum Corporation
(CPC) which incurred a combined operational loss of around Rs. 141
billion in 2012 with outstanding debt of around Rs. 443 billion
registered a turnaround in operational profit last year, the Ministry of
Finance and Planning Annual Report said.
The implementation of the cost effective tariff structure,
strengthening the balance sheet and introducing improvements to power
generation and distribution achieved the turnaround.
The report said that the demand for petroleum and petroleum related
products will increase by 5-7 percent annually due to the growing
transport demand.
The CEB provides electricity below cost to consumers using less than
60 units per month which accounts for about 4.5 million of the 5.2
million households in the country.
The annual cost of such subsidies in 2013 amounted to Rs. 12 billion.
- LF |
