News
Now, electricity consumers entitled to interest on LECO deposits
Rathindra Kuruwita
The Public Utilities Commission of Sri Lanka (PUCSL) responsible for protecting the rights of electricity consumers in the country, together with the electricity service providers yesterday (7) affirmed a unique right for electricity consumers.
PUCSL Chairman Janaka Ratnayake told an event held at the BMICH that the regulator PUCSL together with Electricity Utility Provider, Lanka Electricity Company Private Limited (LECO) had launched an Interest Payment scheme for Electricity Security Deposits for LECO consumers.
Over Rs. 1.2 billion would be paid back to electricity consumers annually by the distribution licensee, Chairman of the Public Utilities Commission of Sri Lanka (PUCSL) Janaka Ratnayake said yesterday at an event in Colombo to mark the commencement of payment of interest on electricity consumer deposits.
When a person obtained an electricity connection from the CEB, he or she had to place a deposit at the regional CEB engineering office. As per Sri Lanka Electricity Act, No. 20 of 2009, the CEB had to pay consumers an interest on those deposits. Section 28.3 of the act says ‘(3) Where any sum of money is provided to a distribution licensee by way of security in pursuance of this section, the licensee (CEB) shall pay interest on such sum of money at such rate as may from time to time be fixed by the licensee with the approval of the Commission (PUCSL), for the period in which it remains in the hands of the licensee.’ It is estimated that there is over Rs. 25 billion of such deposits with the CEB.
The following is the text of Ratnayake’s speech: We have taken the steps to protect the rights of electricity consumers since the inception of the Commission in accordance with the powers vested in it. We have published the Declaration of the Rights and Obligations of Electricity Consumers and many regulatory decisions to protect the rights contained therein and to protect consumers. More than 20 different regulations, rules and guidelines have been enacted to protect consumers.
Payment of interest on electricity consumer deposits declared today is a benefit provided to the consumer under Section 28 of the Sri Lanka Electricity Act. Cooperation between the various parties were required to implement such a benefit. In the recent past, steps were taken to implement this interest rate scheme. Section 28 of the Sri Lanka Electricity Act stipulates that an electricity consumer must be paid interest on the security deposit paid by his client company or licensee.
The implementation of the decision to pay interest benefits was delayed due to various issues such as determining the interest to be paid and resolving issues.
But today we have been able to solve all those problems and The Public Utilities Commission of Sri Lanka has developed a methodology for determining interest rates in an accepted and transparent manner.
The Commission recently decided that the interest rate for this year would be 8.68 per cent. Licensed companies that provide electricity services based on that interest must calculate the interest benefit and pay it to their customers. Starting today the consumers will be able to get this unique benefit scheme.
Lanka Electricity (Pvt) Ltd, a distribution licensee, will start paying interest to its customers from today. LECO alone will pay Rs. 42 million annually to its customers as a benefit through the interest payment benefit on customer deposits.
We hope that in the future other licensees will implement this interest payment programme. When other electricity distribution licensees also implement this interest benefit scheme in the future, around Rs. 1,200 million will flow into the hands of electricity consumers annually.
On the one hand, it is a huge subsidy flowing to the country’s economy through the power industry. The Commission will also implement regulatory measures to meet the aspirations of the licensees to maintain a high quality and efficient electricity service.
The Commission was established in 2002 to regulate the multi-faceted industries of the country. The regulatory powers of the electricity industry were vested in the Sri Lanka Electricity Act passed by Parliament in 2009. Since then, the Commission has initiated the economic, technological and security regulation of the power industry.
Initially, the Commission was to be empowered to regulate the electricity industry and the water services industry. Later the petroleum industry was also listed as an area regulated by the Commission. Acts authorizing the Public Utilities Commission of Sri Lanka to regulate the water services and petroleum industries have not yet come into force.
Once we gain the powers through acts to regulate those industries, we are ready to initiate regulatory activities in the water services and petroleum industries to protect consumers.
The Commission has also been appointed as the regulatory body for the lubricant market in Sri Lanka and we provide the necessary advice and assistance to the Ministry of Energy for the promotion of the lubricant market.
Also, the Commission has been entrusted with the regulation of electric vehicle charging stations. We also have plans to expand the network of electric vehicle charging stations to protect the rights of electric vehicle owners.
This year, we are also implementing a programme to enhance the quality of professionals in the electricity sector and ensure the maintenance of high-security electricity service. At present, nearly 45,000 people are working as electricians in the country. Only by standardizing these people can the quality of home electrical systems in our country be guaranteed.
We have also paved the way for these electricians to be recognized nationally and internationally. The National Electrician Licensing Scheme prepared by the Public Utilities Commission of Sri Lanka will be introduced from this year. To obtain this license, we have implemented an expeditious process of awarding at least the 3rd level of National Vocational Qualification or NVQ 3 Certificate.
Under this expeditious programme, 2500 electricians will be issued NVQ 3 qualification and professional licenses by next July. The awarding of the license and NVQ 3 certificates to the first group of professional electricians is scheduled to take place next June under the patronage of His Excellency the President Gotabhaya Rajapaksa.
Over the next few years, we look forward to implementing special programmes for the advancement of all sectors under the purview of the Public Utilities Commission of Sri Lanka. Licensing licensees who provide utility services under our regulation are also required to improve in their respective fields.
We hope they will work with us to set the tone”.
Latest News
Cabinet nod to implement ‘Suraksha’ Student Insurance Programme in the year 2025 / 26
The Ministry of Education, Higher Education and Vocational Education has entered into agreements with Sri Lanka Insurance Corporation General Limited to execute the Suraksha Student Insurance programme which is implemented with the objective of facilitating to maintain student education activities of students who experience disturbances to education due to numerous health issues without any interruption.
From this, approximately 40 lacks of students educated in government schools, government approved private schools, Pirivena and assisted special schools are covered under health
insurance, accident coverage, and life insurance categories.
Considering the issues recognized when implementing this programme, the Cabinet of Ministers granted approval to the particulars furnished by the Prime Minister in her capacity in the post of the Minister of Education, Higher Education and
Vocational Education that the ‘Suraksha’ Student Insurance Programme for the year 2025 / 2026 will be implemented including the following amendments and thereby actions will be taken to issue relevant circular instructions.
• Implementation of ‘Suraksha’ Student Insurance Programme until 31.08.2026 in relation to the year 2025 / 2026
• Amendment of the annual income of low income category considered at granting parent death benefit from rupees 180,000/- to rupees 240,000/-
• Granting benefit up to rupees 75,000/- for the Scoliosis Brace which is used for correcting distortion of the spinal code and Cochlea Equipment.
• Granting benefits up to rupees Rs. 20,000/- for students those who are taking medicine for longer periods for ailments in the category of critical illness category and another 07 identified ailments.
• Adding 05 more ailments as Pneumothorax, Encephalitis, Thalassemia, Hereditary Spherocytosis and Sickle Cell Anemia which are in the critical ailment category.
• From 01.09.2025, providing opportunity to handover the claim applications for obtaining benefits to any regional office of Sri Lanka Insurance General Limited.
Latest News
Establishment of Consultancy Boards for strengthening and promoting local production industries.
20 Consultancy Boards have been established by now covering the production industries field with the objective of minimizing the policy issues in industries and entrepreneurship development.
It has been recognized the requirement of establishing consultancy committees for another 07 special industry sectors that are not covered by the aforementioned consultancy committees.
Accordingly, the Cabinet of Ministers granted approval to the proposal furnished by the Minister of Industries and Entrepreneurship Development to establish Consultancy Committees for the following industry sectors comprised of not
more than 25 members representing experts in the state institutions, commercial boards / assemblies, institutions (Universities and Research Institutions) and experts in the respective industries sector.
• Indigenous medicine and traditional / hereditary medical sector
• Confectionaries related production industries sector
• Traditional handicraft industries sector
• Chicken related industries sector
• Ornamental fish and sea weed related industries sector
• Creative craft related industries sector
• Event management sector
News
National progress can be achieved only when everyone fulfills the responsibilities entrusted to them with steadfast determination, unity of purpose and resilience in the face of any challenge – President
President Anura Kumara Dissanayake stated that national progress cannot be achieved through suspicion and mistrust of one another, but only when everyone fulfills the responsibilities entrusted to them with steadfast determination, unity of purpose and resilience in the face of any challenge.
The President pointed out that by properly fulfilling the responsibilities entrusted to the President and the Government, to religious institutions, to the people and to the security forces, it is possible to swiftly rebuild the motherland with the pride and dignity that once belonged to us in history. The President invited everyone to work together towards this goal.
President Anura Kumara Dissanayake made these remarks on Saturday (21) morning while attending as the Chief Guest at the Commissioning and Passing Out Parade of cadet officers at the Sri Lanka Military Academy in Diyatalawa.
While noting that Sri Lanka possesses a proud heritage and a history of victories, the President stated that the country has suffered multiple forms of decline over the past few decades. He added that the responsibility entrusted to everyone today is to transform the motherland once again into a state that commands high value and respect on the global stage.
The President stated that, as President and as a government, he would do his best to fulfill the responsibilities entrusted to him in rebuilding the nation. He further noted that the Government is fulfilling its responsibility to rebuild the economy and establish the necessary mechanisms for it, to strengthen the rule of law and to transform politics from a profession that amasses public wealth into one that serves the people.
Commander-in-Chief President Anura Kumara Dissanayake, who arrived at the Diyatalawa Military Academy, was received with full military honours.
This marked the 100th Passing Out Parade of the Diyatalawa Military Academy, the Army’s premier officer training institution that has produced heroic leaders for both the nation and the Sri Lanka Army. A total of 240 cadet officers belonging to Regular Cadet Courses Nos. 93 and 94B, Short Course No. 23, Regular Course No. 62 and Volunteer Female Cadet Course No. 19 were commissioned into the Army following successful military training. Notably, this group also included eight foreign cadet officers.
The Commander-in-Chief, President Anura Kumara Dissanayake inspected the Passing Out Parade of the cadet officers and presented the Championship Colours to the best cadet squad, swords to the commissioned officers and Presidential Merit Awards to the officers who secured first place in their respective courses.
Addressing the gathering, President Anura Kumara Dissanayake further stated that the role played by the Army for the country and its people during every difficult situation is commendable and he expressed special appreciation for the outstanding service rendered in rescuing civilians and providing assistance during the recent cyclone.
Addressing the Passing Out Parade, the Commander-in-Chief, President Anura Kumara Dissanayake, further stated;
“Having entered the Sri Lanka Military Academy in Diyatalawa as cadet officers and received internationally recognised training and education, you are being commissioned today. I believe this will be a very special moment in your lives. I wish you every success as you move forward in your professional careers and strive to achieve your future aspirations and hopes.
At this moment, your parents are watching you. From your early childhood, they wished for a good future for their children. Today is a special moment for them to feel proud of you. Seeing their child standing before them, bearing the responsibility of the motherland and holding the honoured sword of the Army in their hands, is a source of immense pride. Today, you have given your parents the highest respect and recognition they deserve.
I am confident that you will fulfill your parents’ hopes and expectations and lead a meaningful life while safeguarding the dignity and value inherent in this profession.
Your senior officers are also watching you. Through great sacrifice and by enduring challenging periods, they have preserved the honour, value and professionalism of the Sri Lanka Army.
Under their supervision and proper guidance, you have received your training and are being commissioned today. The Commander of the Army and the senior officers are observing you with expectation, hoping that you will continue to uphold and protect the honour and values they brought to this profession.
The Government, I as President, and our motherland place great expectations upon you. Our country has faced many challenges during different periods. In overcoming those challenges; your senior officers have sacrificed their lives for the security, peace and people of this motherland. You stand today on soil sanctified by those who sacrificed their lives in heroic struggles to liberate our motherland.
Therefore, an inescapable responsibility rests upon all of us. As members of the Sri Lanka Army, you bear an irrevocable duty to ensure the security of our motherland and its people. We place our trust and hope in you. Our country faced a major disaster due to the cyclone and civilian life was completely disrupted. Providing food to certain communities became extremely difficult and rescuing some lives posed significant challenges. From that day to this, the Sri Lanka Army has played a major role in confronting every challenge. I take this opportunity to express my gratitude to them.
Members of the armed forces are engaged in extremely demanding tasks, making great efforts to restore normalcy to civilian life. The responsibility placed upon you is not merely that of a profession. There are many different professions and your friends are engaged in various occupations. Each of those professions carries its own responsibility and values. However, I believe that you have been entrusted with exceptionally high values and a tremendous responsibility rests upon your shoulders.
We must rebuild our motherland. From many directions, our country has faced serious threats. There was a period when the state machinery weakened and collapsed and another when the economy was severely challenged and deteriorated. There was a time when social wellbeing completely eroded. Human relationships began to lose their value. Relationships between parents and children began to break down. Relationships between teachers and students began to deteriorate. Relationships between religious institutions and their congregations began to weaken. Our country was moving towards becoming a state where all human relationships had broken down.
Now, the responsibility entrusted to us is to transform this motherland into a state that commands high values and recognition in the world. Similar responsibilities are entrusted to you as well. This country cannot be taken forward by working against one another or by acting with suspicion and mistrust. As a nation, we can progress only if all of us act with firm determination to properly fulfil the responsibilities entrusted to us. I pledge to you that, as a state, we will utilise the responsibilities entrusted to us to rebuild this nation.
I invite everyone to work together towards this goal.”
Deputy Minister of Defence Aruna Jayasekara; Secretary to the Ministry of Defence, Air Vice Marshal (Retired) Sampath Thuyacontha; Commander of the Army, Lieutenant General Lasantha Rodrigo; Commander of the Navy, Vice Admiral Kanchana Banagoda; Commander of the Air Force, Air Marshal Vasu Bandu Edirisinghe; and Inspector General of Police, Attorney-at-Law Priyantha Weerasuriya, along with the Commandant of the Sri Lanka Military Academy, Major General M.J.R.N. Medagoda, defence coordination officers, senior Army officers, and the parents of the graduating cadet officers, were among those present on the occasion.
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