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Electricity price slash should result in 20% savings on goods and services

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Minister of Power and Energy, Kanchana Wijesekera highlighted that following the revision of electricity prices, there is potential for a reduction of approximately 20% in the prices of goods and services in the market.

The Minister further urged the business community to alleviate the burden on the public by lowering prices, starting from midnight on the day of the electricity price adjustment, coinciding with the reduction in electricity bills.

Addressing the press briefing titled “Collective Path to a Stable Country” held at the President’s Media Centre (PMC) today (16),  Wijesekera said that those consuming less than 90 units have benefited the most from the recent electricity tariff revision.

The Minister further elaborated,

The government has decided to revise the electricity tariff every January, April, July, and October each year. Following the price adjustment in March, the Public Utilities Commission (PUCSL) requested a July revision instead of April. Therefore, the new electricity tariff revision will take effect from July 16. The next revision is scheduled for October.

Amid the economic crisis of 2022, bank interest rates soared to 36%. Escalating prices of coal, fuel, and other commodities due to the Russian-Ukrainian war also contributed to the need for an electricity price revision, the first since 2014, which took place in August 2022.

However, this time, there are several key factors contributing to a 22.5% reduction in electricity prices. Notably, there has been significant improvement in the economic situation. Additionally, over the past two years, there has been an increase in rainfall, leading to higher hydropower generation. Renewable energy production has also seen a rise. In April, electricity from the Uma Oya hydropower plant was integrated into the national grid.

Over the last 18 months, the Ceylon Electricity Board (CEB) has diligently worked to reduce operational costs. No new employees have been hired, reducing the workforce from 26,000 to 22,000 employees.

This tariff revision has provided the most relief to consumers using less than 90 units of electricity, particularly benefiting the 79% of households in this category.

During the peak of electricity billing, the production cost per unit was approximately Rs.48.00, which has now decreased to Rs.35.00. A reduction of 25%-26% in electricity prices has been granted to hotels and industries, while religious institutions have seen a 30% decrease across their entire category.

Looking ahead, the key to further reducing electricity tariffs lies in lowering generation costs, which necessitates the rapid establishment of cost-effective power plants. These new facilities are projected to be operational within the next three years, promising additional reductions in electricity charges thereafter.

Currently, there are only 189,000 consumers using more than 180 units of electricity. For those consuming 30 units, the bill amounts to just Rs.290.00, while those using between 1 and 60 units pay around Rs.790.00.

There has been a significant 20% price reduction for factories and small businesses in this electricity tariff revision. Despite this reduction, it appears unlikely that the prices of goods and services, which typically rise on the same night as electricity price hikes, will decrease accordingly. Recently, fuel and kerosene prices have also dropped without leading to lower consumer prices. Therefore, with the substantial decrease in electricity costs this year, we urge the public to take advantage of these savings, with potential for at least a 20% reduction in overall expenses.

During previous electricity price increases, media reports often compared our tariffs with those of neighbouring countries in the region. I encourage the media to now initiate discussions on how this reduction compares with regional electricity prices and emphasize the continuity of electricity supply. Some media and journalists have speculated that this tariff revision was timed due to upcoming elections. However, these policies were formulated back in 2022 through a formal process, resulting from sound policy decisions rather than populist measures. Therefore, I kindly request equal recognition and acknowledgment for the President and the government when electricity prices are reduced.

In the future, we are focusing on implementing an electricity generation plan that emphasizes efficiency and low operating costs. Prior to 2022, the power sector consistently operated at a loss. However, we have achieved operating profits in both 2023 and 2024.

Due to our agreement with the International Monetary Fund (IMF), funding for the CEB from the Treasury has ceased since August of last year. Despite this, through stringent financial discipline, we have successfully steered the CEB into a profitable position. Significant efforts have also been made to repay a substantial portion of the CEB’s debts to other institutions.

Moreover, the government has actively promoted the installation of solar panels to bolster renewable energy adoption. A plan was devised for rooftop solar panels to contribute 150 megawatts annually to the national grid. Thus far, these installations have added 149 megawatts per year to our national grid.



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Venezuela’s abducted leader, Nicolas Maduro, and wife appear in NYC court

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A man holds a picture of abducted Venezuelan President Nicolas Maduro in Caracas on Monday [Aljazeera]

Venezuelan President Nicholas Maduro,  recently abducted with his wife by US special forces from his home, has appeared in a federal courtroom in New York City for a hearing on alleged ‘narcoterrorism’ and other charges.

Maduro and his wife, Cilia Flores, were brought before US District Judge Alvin K Hellerstein at 12pm (17:00 GMT) on Monday for a brief legal proceeding that kicks off a long legal battle over whether they can face trial in the United States.

Handcuffed and wearing blue jail uniforms, Maduro and his wife were led into the court by officers, and both put on headsets to hear the English-language proceeding as it was translated into Spanish.

Maduro pleaded not guilty, telling the judge, “I was kidnapped. I am innocent and a decent man, the president of my country.”

Across the street from the court, the police separated a small but growing group of protesters from about a dozen pro-intervention demonstrators, including one man who pulled a Venezuelan flag away from those protesting the US abduction.

The left-wing leader, his wife, son and three others could face life in prison if convicted of working with drug cartels to facilitate the shipment of thousands of tonnes of cocaine into the country. Some observers say there is no evidence linking Maduro to cartels.

Maduro’s lawyers said they will contest the legality of his arrest, arguing he is immune from prosecution as a sovereign head of a foreign state, though he is not recognised as Venezuela’s legitimate leader by the US and other nations.

Flores also pleaded not guilty to US charges against her during the arraignment. Hellerstein ordered the Venezuelan leader to appear in court for a hearing on March 17.

INTERACTIVE - US attacks on Venezuela map-1767437429

Near the end of the hearing, Maduro’s lawyer, Barry J Pollack, said his client “is head of a sovereign state and entitled to the privilege” that the status ensures.

Pollack said there were “questions about the legality of his military abduction”, and there will be “voluminous” pretrial filings to address those legal challenges.

Earlier, images showed the pair being led handcuffed and under heavy guard from a helicopter en route from a detention facility to the court, two days after they were forcibly removed from Caracas in a brazen US special forces operation.

At an emergency session of the United Nations Security Council earlier on Monday, Secretary-General Antonio Guterres expressed concern that Washington’s capture of Maduro violated international law.

“I remain deeply concerned that rules of international law have not been respected with regard to the 3 January military action. The Charter enshrines the prohibition of the threat or use of force against the territorial integrity or political independence of any state,” Guterres said, referring to the UN’s founding document.

“The maintenance of international peace and security depends on the continued commitment of all member states to adhere to all the provisions of the Charter.”

Samuel Moncada, Venezuela’s ambassador to the UN, accused the US of carrying out an illegal armed attack against his country.

Venezuela was subjected to bombing, destruction of civilian infrastructure, the loss of civilian and military lives, and the “kidnapping” of Maduro and his wife, Moncada said.

The abduction of a sitting head of state breached a core norm of international law, the personal immunity of leaders in office, he added, warning that such actions set a dangerous precedent for all countries.

Russia and China, Venezuela’s most powerful allies, strongly condemned Maduro’s abduction and called for his release.

US allies France and Colombia also notably voiced concern, saying Washington’s military operation had undermined international law.

The US ambassador to the UN, Mike Waltz, defended Maduro’s abduction, describing it as a “law enforcement operation”.

“The United States arrested a narcotrafficker who is now going to stand trial in the United States,” Waltz said.

Waltz accused Maduro of being “responsible for attacks against the people of the United States, for destabilising the Western Hemisphere, and illegitimately repressing the people of Venezuela”.

All eyes are on Venezuela’s response to the swiftly moving events after US President Donald Trump said late on Sunday that the US is “in charge” of the South American nation, which has the world’s largest oil reserves.

Vice President Delcy Rodriguez, meanwhile, was officially sworn in as interim president on Monday.

Rodriguez, a 56-year-old labour lawyer known for close connections to the private sector and her devotion to the governing party, was sworn in by ​her brother, Jorge, ‌who is the head of the National Assembly legislature.

Delcy Rodriguez initially took a defiant stand against the seizure of the president, in what some observers labelled a return to “US gunboat diplomacy”. But she has now offered to colaborate with Washington.

One analyst said that Venezuela’s opposition appreciates the US intervention to remove Maduro from power, but is alarmed by Trump’s comments about US plans to “run” Venezuela, apparently with members of his government.

“Trump doesn’t recognise the decision of the Venezuelan people. We are not a colony of the US. We are an independent country,” Jose Manuel Puente, a professor at the Instituto de Estudios Superiores de Administracion, a private university in Caracas, told Al Jazeera.

“We want to initiate a transition to democracy, to rebuild the institutions, to rebuild the economy, to rebuild the oil sector. And we don’t see that from Trump until now.”

Venezuela’s National Assembly opened on Monday with lawmakers chanting “Let’s go, Nico!” as they denounced his abduction.

“The president of the United States, Mr Trump, claims to be the prosecutor, the judge, and the policeman of the world,” senior lawmaker Fernando Soto Rojas told the assembly. “We say, you will not succeed, and we will ultimately deploy all our solidarity so that our legitimate president, Nicolas Maduro, returns victorious to Miraflores”, the presidential palace, he added.

Rodriguez has served as Maduro’s vice president since 2018, overseeing much of Venezuela’s oil dependent economy and its feared intelligence service, and was next in the presidential line of succession.

She is part of a band of senior officials in Maduro’s administration who now appear to control Venezuela, even as Trump and other US officials say they will pressure the government to fall in line with their vision for the oil-rich nation.

On Sunday, some 2,000 Maduro supporters, including rifle-wielding men on motorcycles, rallied in Caracas with crowds shouting and waving Venezuelan flags. The Venezuelan military, loyal to Maduro, announced it recognised Rodriguez and urged calm.

The White House indicated on Sunday that it does not want regime change, only Maduro’s removal and a pliant new government that will enable US companies to exploit the country’s oil reserves, even if the government is filled with his former associates.

[Aljazeera]

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Advisory for low pressure area over South-east Bay of Bengal Sea area

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The Natural Hazards Early Warning Centre of the Department of Meteorology has issued an advisory at 11.30 pm on 05 January 2026 regarding a low pressure area over South-east Bay of Bengal Sea area.

The low-level atmospheric disturbance in the Bay of Bengal, to the southeast of the Sri Lanka has intensified into a low-pressure area.

Hence, showery condition over the island, particularly
in the Northern, North-Central, Eastern, Uva and Central provinces is expected to enhance from January 8th.

The Meteorological Department is constantly monitoring the behavior of the system.

The general public are requested to be attentive to the future forecasts and bulletins issued by the Department of Meteorology in this regards.

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Bangladesh bans IPL broadcast over Mustafizur row

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The Bangladesh government has banned the broadcast of IPL 2026 in the country as a response to the BCCI’s decision to pull Mustafizur Rahman out of the tournament.

A statement from the ministry of information and broadcasting said that it had “noted that no reason was communicated for the decision behind Mustafizur Rahman’s exclusion [from the IPL]” and that the development had “caused distress among the people of Bangladesh”. The decision had been taken “in public interest”, it said.

The statement was signed by the ministry’s assistant secretary Firoz Khan.

TV channels and streaming platforms have broadcast the IPL in Bangladesh since its inception in 2008. This is also the first time that the Bangladesh government has banned the telecast of an international cricket tournament, anywhere in the world.

On Saturday, Kolkata Knight Riders (KKR), the team that bought Mustafizur at the IPL auction in December, released him following instructions from the BCCI. The BCCI did not specify a reason – its secretary Devajit Saikia mentioned “recent developments” and did not elaborate.

Over the past few days, Indian spiritual and political leaders had criticised KKR and their owner Shah Rukh Khan for including Mustafizur in their line-up at a time when, according to reports, Hindu minorities are being attacked in Bangladesh. Relations between the two countries have deteriorated since.

Bangladesh are already petitioning the ICC to shift their T20 World Cup matches out of India. No decision has been made on that front yet. The original schedule has Bangladesh opening their campaign against West Indies at Eden Gardens in Kolkata on February 7.

Dr Asif Nazrul, who is currently the sports adviser to the Bangladesh government, said on Saturday evening that the IPL shouldn’t be shown in Bangladesh. Following that post on social media, the country’s information adviser Syeda Rizwana Hasan said any decision to stop broadcasting IPL in Bangladesh would be taken after reviewing the legal basis and thoroughly examining the relevant procedures.

Later on Sunday evening, the BCB confirmed that it has written to the ICC seeking relocation of Bangladesh’s T20 World Cup matches from India, likely to Sri Lanka, the other hosts of the tournament. They have reportedly also written to the BCCI seeking an explanation about Mustafizur’s withdrawal.

While there has been an unspoken ban in the IPL on players from Pakistan for many years now, several Bangladesh players have taken part in the tournament. Mustafizur was the only one picked by a team for the upcoming season, and has been an IPL regular since 2016, with Shakib Al Hasan (KKR and Sunrisers Hyderabad) the other prominent import from the country. Both of them have experience winning the title too.

Abdur Razzak (Royal Challengers Bengaluru), Mohammad Ashraful (Mumbai Indians), Mashrafe Mortaza (KKR), Tamim Iqbal (the now-defunct Pune Warriors India) and Litton Das (KKR) are the others from Bangladesh who have been a part of the IPL in previous years. The new season begins on March 26.

(Cricinfo)

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