Increase in electricity rate in Sri Lanka by 264%

Tariffs will be increased by 264% for people who consume less electricity in Sri Lanka. Whereas for people who consume more, this rate will be less. The Ceylon Electricity Board (CEB) said the tariff regulator had given permission to increase it on Tuesday. This increase is happening for the first time in 9 years. The new rates will be implemented from 10 August 2022.
Officials said the CEB had asked for a tariff hike of over 800%. But the regulator changed it and increased the increase to 264%. The CEB has so far incurred a loss of $616 million on account of electricity tariffs. To compensate for this, such rates have been increased.
According to official records, households consuming less than 90 kW will be the most affected. Whereas those using electricity more than 90 kW will have to pay only 80% of the bill. Consumers who have paid Rs 2.50 per unit charge till now will now be charged Rs 8 per unit. On the other hand, consumers consuming more than this will have to pay ₹ 75 per unit instead of ₹ 45 per unit.
CEB is not able to buy oil for thermal generators. Due to this, the country is facing hyperinflation and prolonged power blackout. The government said it was talking to the International Monetary Fund.