Addressing the House, the Minister said the decline in generation costs has been largely driven by the rapid expansion of renewable energy sources, which has helped lower dependency on expensive thermal power generation. He noted that sustained reductions in generation costs are essential to delivering long-term relief to electricity consumers.
The Minister further revealed that the Government is aiming to reduce the cost of generating a unit of electricity to Rs. 25, which would represent an overall reduction of 32 percent from previous levels.
“It is not possible to reduce the electricity bill without reducing the cost of generating a unit of electricity. What is currently being done is to buy more and sell less. Our plan is to bring that figure down to Rs. 25,” Minister Jayakody told Parliament. “By doing so, we will act as promised to reduce the electricity bill by 30 percent within three years.”
He made these remarks while responding to an oral question raised by MP Ravi Karunanayake, who sought clarification on measures being taken to lower electricity tariffs.
The Government maintains that continued investment in renewable energy and improved efficiency in power generation will play a key role in achieving these cost reductions and easing the financial burden on consumers in the coming years.
