The Ceylon Electricity Board (CEB) has officially announced a halt to its privatization plans, opting instead to implement a comprehensive restructuring strategy aimed at increasing efficiency and service quality. This decision, made at a recent Board of Directors meeting on October 23, marks a shift towards strengthening state control while enhancing the organization’s operations.
Key Points of the New Restructuring Framework:
- Focus on Organizational Reforms: The CEB aims to boost customer satisfaction, improve service standards, achieve sustainable profitability, support economic growth, and improve working conditions for its employees.
- Amendments to Sri Lanka Electricity Act: The restructuring involves amending the Sri Lanka Electricity Act to retain government ownership of power plants and transmission and distribution networks, ensuring that privatization is off the table.
- Single-Buyer Model Proposal: The CEB proposes an independent management mechanism under a single-buyer model to oversee financial and operational aspects of electricity generation, transmission, and distribution. This model will feature public and stakeholder consultations to support transparency.
- Regional Cost Competitiveness Goal: The Board has also set an ambitious target to make Sri Lanka’s electricity costs the lowest in the region within the next five years, a move expected to foster economic stability and affordability.
This strategic shift by the CEB signifies a commitment to retain government control over essential infrastructure while enhancing service quality and cost efficiency through focused reforms.
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Ceylon Electricity Board (CEB)
Last modified: November 4, 2024
