Failure to amend power purchasing agreement:CEB incurs Rs 8B loss

The failure to make necessary amendments to a power purchasing agreement with a private power plant has resulted in the Ceylon Electricity Board (CEB) incurring a loss of Rs 8 billion.

Responding to a question raised by United National Party MP, Professor Ashu Marasinghe, Deputy Minister of Power and Renewable Energy, Ajith P. Perera said, in Parliament that the CEB had incurred this loss during the last four years owing to the failure to amend its power purchasing agreement with the West Coast private power plant.

He also said, that a committee has been appointed to look into the matter.

MP Marasinghe said, that the CEB had suffered a loss of Rs 8 billion during the past four years as the amending of the power purchasing agreement with the West Coast private power plant had not been revised as yet even though it should have been amended four years ago.

“According to the officials of the CEB, the loss incurred by the CEB is Rs 2 billion each year,” he pointed out.

Deputy Minister Perera said, that “a committee has been appointed in this connection and West Coast Private Limited would have to settle the due amounts to the CEB in the future.”

“The committee has raised concerns about the data provided by West Coast. The process is delayed as it needs to go through a proper technical framework.”