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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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Ahmedabad to host IPL 2026 final on May 31

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The final will be held on May 31 [BCCI]
The schedule for the IPL 2026 playoffs has been announced, with matches set to be held in Dharamshala, New Chandigarh (Mullanpur) and Ahmedabad. The BCCI has stated that, owing to certain operational and logistical considerations, the Playoffs will be held across three venues “as a special case”.
Qualifier 1 will be played at the HPCA Stadium, in Dharamsala, between the top two ranked teams from the group stages of the points table. The winner will be ensured a direct place in the final.
The Eliminator will be held in New Chandigarh, where the third and fourth ranked teams will feature. The same venue will host Qualifier 2, which will feature the winner of the Eliminator and the loser of Qualifier 1.
The final will be held at the Narendra Modi Stadium in Ahmedabad.[Cricbuzz]

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Man charged with attempted Trump assassination indicted for assaulting Secret Service officer

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[pic BBC]

The California man who allegedly tried to assassinate President Donald Trump at a Washington gala has been indicted on a fourth charge of assaulting a US officer or employee with a deadly weapon.

The new charge comes in the wake of questions over whether a Secret Service officer – who was shot but not seriously wounded in the attack at the White House Correspondents Dinner on 25 April – was hit by crossfire from another officer.

US Attorney Jeanine Pirro signed off on the new indictment unsealed on Tuesday, which supersedes the previous charges.

Cole Tomas Allen, 31, appeared in court in Washington DC last week. He has not yet entered a plea.

According to court documents filed on Tuesday, a grand jury also indicted Allen on charges of attempting to assassinate the US president as well as two firearms offences – transportation of a firearm and ammunition in interstate commerce with intent to commit a felony, and using, carrying, brandishing and discharging a firearm during a crime.

Allen was previously charged on those counts last week via criminal complaint.

The suspect was carrying a semi-automatic handgun, a pump-action shotgun and three knives as he allegedly rushed through a security checkpoint one floor above the basement venue at the Washington Hilton hotel on 25 April, prosecutors have said.

After gunfire rang out, Trump, Vice-President JD Vance, cabinet members and other White House officials were rushed from the hotel ballroom as dinner attendees sheltered under tables.

The incident has sparked a White House security review.

The Torrance, California , man studied at the prestigious California Institute of Technology, and worshipped at the Pasadena United Reformed Church in the Los Angeles area.

Federal campaign finance records show he donated $25 to a Democratic Party political action committee in support of Kamala Harris for president in 2024.

He allegedly sent an email to his family shortly before the attack that said, “Administration officials… are targets, prioritised from highest-ranking to lowest”, according to court records.

“I would still go through most everyone here to get to the targets if it were absolutely necessary,” he allegedly added.

Allen, who remains in custody, could face life in prison if found guilty.

[BBC]

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Trump says US to pause operation to guide vessels through Strait of Hormuz

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[file pic]

The US operation to guide stranded vessels through the Strait of Hormuz will be paused for a “short period of time”, President Donald Trump announced on Tuesday evening.

Trump said that “Project Freedom”, which began days earlier, would be halted by “mutual agreement” because “great progress” had been made toward a deal with Iran.

Iranian state media characterised it as a victory, saying the pause demonstrated that Trump “retreated” after “continued failures” to reopen the vital waterway for global shipping.

The US president’s announcement came as Secretary of State Marco Rubio said the initial US-Israeli offensive in Iran – Operation Epic Fury – was over after achieving its objectives.

In a post on social media, Trump said that he had made the decision “based on the request of Pakistan”, which has acted as an intermediary between the US and Iran. He added that the US blockade of Iranian ports would remain in place.

Trump’s announcement may surprise some. It undercuts a day’s worth of messaging from Rubio, defence secretary Pete Hegseth and Joint Chiefs chairman Gen. Dan Caine – all of whom vowed that the operation would ensure freedom of navigation and commerce in the Strait of Hormuz and Persian Gulf.

“We would prefer the path of peace. What the president [Donald Trump] would prefer is a deal,” Rubio told reporters on Tuesday.

What happens next is unclear. The administration had stressed that Project Freedom was a “separate and distinct” campaign from the blockade, which is meant to pressure Iran economically.

Project Freedom was meant to help restore the flow of oil from the region and the global economy’s eventual return to normalcy by guiding stranded ships out of the Gulf through the largely closed waterway. But if during the “pause”, global shipping firms and the insurance companies working with them are stymied by Iranian interference, it will be difficult for Trump to claim that objective has been achieved.

On the other hand, the administration may hope that freezing Project Freedom – which the Iranians strongly objected to – helps bring them to the negotiating table again.

Rubio’s comments earlier in the day came after a spate of attacks in the Strait of Hormuz raised fears the ceasefire between the US and Iran was in jeopardy.

Tehran did not commented on Rubio’s statement, but Iran’s parliamentary speaker Mohammad Ghalibaf earlier said: “We know well that the continuation of the status quo is intolerable for America, while we are just getting started.”

Ghalibaf, Iran’s top negotiator in last month’s talks with the US, said, “Shipping security and energy transit have been jeopardised by the US and its allies with the ceasefire violations and blockade. However, their evil acts will fail”.

Late on Tuesday the UK Maritime Trade Operations (UKMTO) said a verified source had told it that a cargo vessel has been struck “by an unknown projectile” in the Strait of Hormuz. Further details were not immediately available.

Earlier in the day the UAE said its air defences were engaging missiles and drones from Iran for a second day in a row. On Monday it accused Iran of firing missiles and drones including a strike on an oil port in the emirate of Fujairah which is located outside the Strait of Hormuz, calling it a “dangerous escalation”.

Iran on Tuesday denied launching any attacks on the UAE, with a military spokesman saying that, “If such an action had been taken, we would have announced it firmly and clearly”.

Operation Epic Fury began on 28 February when the US and Israel launched a wave of air strikes on Iran. Tehran responded by blocking the crucial waterway through which 20% of the world’s oil and liquefied natural gas usually passes.

In early April, the US and Iran announced a ceasefire under which Iran ended its drone and missile strikes on Gulf countries including the UAE, but few vessels have been able to transit the strait since then. The US also imposed its own blockade on Iranian ports.

On Monday, the US said it had attacked seven Iranian fast boats in the strait while Iran said it had fired warning shots at a US vessel. Both sides denied the respective claims. Two commercial ships reported attacks and one said it had successfully exited the strait under a US military escort, as part of Donald Trump’s plan to unblock the strait.

Speaking at the White House, Rubio said that while Trump wanted a deal, “That is so far not the route that Iran has chosen” adding: “What that may lead to in the future is speculative.”

He said US and Israeli attacks on Iran had caused “generational destruction to their economy” and the country’s leaders should “check themselves before they wreck themselves in the direction that they’re going”.

Hegseth said the ceasefire with Iran was “not over”.

“Right now the ceasefire certainly holds, but we’re going to be watching very, very closely,” Hegseth said during a press conference on Tuesday.

Caine said that while Iran had attacked US forces 10 times since a ceasefire began, these attacks were “below the threshold” of resuming fighting “at this point”.

Trump was later asked by reporters what would constitute a breach of the ceasefire by Iran. “You’ll find out because I’ll let you know,” he responded. He also said he believed a negotiated settlement with Iran to end the conflict was still possible.

The various comments from American officials suggest that the US has little desire or appetite to return to full-scale operations – further disturbing markets, sending prices skyrocketing and meeting opposition from large swathes of Americans.

Trump also has said he is discussing the strait’s reopening with Japan and expects to have a positive conversation with Chinese President Xi Jinping about it when he visits China next week.

Map of Strait of Hormuz

[BBC]

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