Business

‘The devil is in the details’ in electricity sector reforms

Published

2 years ago

2025/02/11

Thilina Walpola

Prof. Asanka Rodrigo: ‘Precision needed in reforms

By Ifham Nizam

Sri Lanka’s electricity sector is undergoing a seismic transformation with the proposed amendments in the Electricity Act No. 36 of 2024. With the primary aim of restructuring the Ceylon Electricity Board (CEB), these reforms promise to reshape the country’s energy landscape. But experts, including Professor Asanka Rodrigo from the Department of Electrical Engineering at the University of Moratuwa, caution that while the reforms hold potential, they could also lead to unintended consequences if not executed with clarity and precision.

The Institution of Engineers, Sri Lanka (IESL) initiated an open dialogue on the Ministry of Energy’s proposed amendments to the Electricity Act. Aiming to engage diverse stakeholders, the workshop titled ‘Power Sector Reforms: IESL Perspective’, was held last Friday at the IESL auditorium.

Rodrigo said that the proposed changes seek to restructure the current CEB into 12 independent entities, including four generation companies, a 100% government-owned National System Operator (NSO), a National Transmission and Network Service (NTNS) company, and four independent distribution companies. This restructuring intends to pave the way for a competitive wholesale electricity market within five years. However, despite the Act’s ambitious goals, the transition remains murky, with critics arguing that it lacks the comprehensive guidelines needed to ensure smooth implementation.

Rodrigo, an authority on electrical engineering, acknowledges the need for reform but emphasizes the importance of strategic planning. “The reform is undoubtedly necessary to foster competition and improve operational efficiency. But the devil is in the details, and right now, we lack the specifics on how to achieve these lofty objectives,” he states. One of his key concerns is the weak clauses within the Act regarding the transformation process, which could potentially undermine the very competition the reforms aim to establish.

In addition to restructuring, the Act also calls for the formation of a National Electricity Advisory Council tasked with advising the minister on energy policy. However, Rodrigo warns that certain provisions may allow for direct ministerial interference in regulatory affairs, raising concerns about the independence of the sector. “While governance should certainly be accountable, excessive ministerial control over the National System Operator is troubling. The sector needs an independent regulator to ensure impartiality and the long-term sustainability of the market,” he says.

The complexities deepen with the concept paper’s more intricate proposal, which suggests creating 14 state-owned companies instead of the initial 12. These include holding companies for generation, transmission, and distribution, along with a company for the CEB fund. Yet, questions remain about the necessity of additional holding companies that do not engage in core electricity sector operations. “Introducing more layers of bureaucracy without clear functions risks complicating the system instead of simplifying it,” he notes. “We need to ensure that each new entity has a distinct role and contributes to sector efficiency rather than creating redundancy.”

Perhaps one of the most contentious proposals is the reduction of the standardized power purchase agreement (SPPA) limit to plants not exceeding 1 MW, down from the current 10 MW. This decision has raised alarms among renewable energy advocates, who fear it will hinder the integration of solar, wind, and other renewable sources into the grid. “Renewable energy investments require stability and long-term planning, says Rodrigo. “By reducing the SPPA limit too drastically, we risk stalling progress and discouraging future investments in renewable energy.”

Rodrigo believes that the country must maintain a balanced approach to renewable energy integration. “While the reduction of the SPPA limit is intended to support smaller-scale projects, it should not come at the expense of larger, more impactful renewable energy investments, he advises. A gradual approach to reducing the SPPA limit, with clear incentives for renewable energy developers, would create a more favorable environment for long-term investment.

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Business

SLEIS 2026 to examine how Sri Lanka can strengthen its place in Asia’s growth networks

Published

11 hours ago

2026/09/16

Sahan Weerasooriya

Ambassador Akio ISOMATA / Chathuranga Abeysinghe / P.D. Singh

As Asia continues to account for a growing share of global economic activity, Sri Lanka faces an important opportunity to strengthen its links with regional trade networks, supply chains and economic corridors. How the country can make better use of these connections to attract investment, expand trade and strengthen its position in regional value chains will be among the key questions at the Sri Lanka Economic & Investment Summit 2026, organised by The Ceylon Chamber of Commerce on 12-13 October 2026.

Titled “Linking Sri Lanka to Asia’s Growth Networks: Trade, Corridors, and Value Chains,” the session will examine the opportunities for Sri Lanka to deepen its integration with the wider Asian economy and build stronger connections with regional and global markets.

The session keynote will be delivered by P.D Singh – Chief Executive Officer, India and South Asia, Standard Chartered Bank. He will be joined for a panel discussion by Chathuranga Abeysinghe – Deputy Minister of Industry and Entrepreneurship Development, Akio ISOMATA – Ambassador of Japan to Sri Lanka, MASAAKI Kawabata – Chairman – Toyota Lanka (Private) Limited, and Ravi Jayawardena – Group Chief Executive Officer-Maliban Biscuits (Private) Limited. The session will be moderated by Ms. Subhashini Abeysinghe – Research Director- Verité Research.

For Sri Lanka, stronger regional integration can open opportunities beyond traditional export markets. Greater participation in regional supply chains, improved trade connectivity and closer links to economic corridors can support investment in areas such as logistics, manufacturing, export services and other sectors connected to international production networks.

The discussion will consider what Sri Lanka needs to do to strengthen its position within these networks, including improving trade connectivity, attracting investment and creating a business environment that enables companies to participate more effectively in regional and global value chains.

It will also look at the experience of businesses and international institutions operating across the region, providing perspectives on how companies assess markets, build supply chains and identify locations for investment. With supply chains and investment flows increasingly shaped by regional connectivity, the session will also consider the partnerships and strategies needed to position Sri Lanka as a more competitive participant in Asia’s growth networks, while creating opportunities for trade, investment, innovation and economic growth.

The session will form part of the second day of SLEIS 2026, held under the theme “Positioning Sri Lanka in a Changing Global Economy: Resilience, Reform, and the Future of Economic Policy.”

The Sri Lanka Economic & Investment Summit 2026 is supported by its valued sponsors and partners. Platinum Sponsor – Standard Chartered Bank Sri Lanka, Gold Sponsor – VISA Worldwide (Pvt) Ltd., Bronze Sponsor – South Asia Gateway Terminals (Pvt) Ltd., Strategic Development Partner – Asian Development Bank, Telecommunication Partner – Dialog Telecommunication, Television Partner – Dialog Television, Session Sponsors – David Pieris Motor Company (Pvt) Ltd., Hemas Holdings PLC, Sunshine Holdings PLC, International Construction Consortium (Pvt) Ltd., Official Logistics Partner – Hayleys Advantis Limited, Official Airline – SriLankan Airlines Ltd., Official Hospitality Partner – Shangri-La Colombo, Airline Partner – China Eastern Air Holding Co. Ltd.

Registrations are now open at https://sleis.chamber.lk/. For more information, contact Alikie on 011 558 8805 (alikie@chamber.lk) or Shanuka on 0701082541 (events.division@chamber.lk).

Business

AAC launches seat belt safety awareness initiative with RDA Colombo

Published

11 hours ago

2026/09/16

Sahan Weerasooriya

The Automobile Association of Ceylon (AAC), in collaboration with the Road Development Authority (RDA) and Police – Traffic Division, will conduct a special Road Safety Awareness Programme to promote the importance of wearing seat belts in vehicles specially on the express highways in order to reduce road fatalities and serious injuries.

The official handing-over ceremony took place at the Chairman’s Office of the Road Development Authority on 14th September 2026, where specially designed Seat Belt Safety Hanging Tags & Stickers prepared by the Automobile Association of Ceylon were handed over to the RDA for distribution to motorists at entry points to the expressways.

The initiative is being conducted in connection with the seat belt law coming into effect on 19th September 2026 and is intended to create greater public awareness of the importance of wearing seat belts in both the front and rear seats of vehicles.

Representing the Automobile Association of Ceylon at the ceremony Dhammika Attygalle, President; Prasanna De Zoysa, Sectional Chairman – Road Safety; and Devapriya Hettiarachchi, Secretary, Senior Superintendent of Police -Traffic Sisira Peththrathanthri, participated in the programme.

The Automobile Association of Ceylon has consistently maintained that road safety is one of its foremost priorities. Through awareness campaigns, educational programmes and collaboration with government authorities and other stakeholders, the Association continues to encourage responsible driving and safer behaviour among all road users.

AAC believes that the proper use of seat belts, including by rear-seat passengers, is a simple but vital safety measure that can help reduce serious injuries and save lives in the event of a road crash.

The programme further strengthens the cooperation between the Automobile Association of Ceylon, the Road Development Authority and the Police in their shared commitment towards safer roads and saving lives in Sri Lanka.

Business

Sanath Jayasuriya as Brand Ambassador

Published

11 hours ago

2026/09/16

Sahan Weerasooriya

Mr. Dasun Wickramarathna, Chairman Global Housing & Real Estate (Pvt) Ltd with Sanath Jayasuriya, World Renown Personality & Brand Ambassador

Global Housing & Real Estate (Pvt) Ltd (GHR) has announced a landmark partnership with Sri Lankan cricket legend Sanath Jayasuriya, as its Brand Ambassador as GHR enters a new chapter in its journey within Sri Lanka’s luxury real estate sector.

The partnership was officially unveiled at a press conference held at Cinnamon Life, Colombo, on 14 September 2026, bringing together industry leaders, investors and members of the media under the theme “Two Gamechangers, A New Beginning.”

The collaboration brings together two names associated with challenging convention in their respective fields: Sanath Jayasuriya, whose fearless approach transformed the dynamics of international cricket, and GHR, which has sought to introduce new approaches to property investment and luxury living in Sri Lanka.

Over the past two decades, GHR has built its presence in Sri Lanka’s real estate sector with a focus on quality, structural integrity and long-term investment value.

A significant milestone in the company’s journey came in 2016, when GHR introduced the hotel residency concept to the Sri Lankan market. The model brought together luxury hospitality and real estate investment, creating opportunities for property ownership with the potential to generate investment returns while contributing to the growth of the country’s high-end tourism offering. GHR has since continued to expand its portfolio across key destinations in Sri Lanka.

Speaking at the announcement, Dasun Wickramarathna, Chairman of Global Housing & Real Estate (Pvt) Ltd, said, “For over twenty years, Global Housing & Real Estate has strived to push the boundaries of what property development can achieve in Sri Lanka. As pioneers who introduced the hotel residency concept back in 2016, our mission has always been clear: to provide high-yield investment opportunities for our clients while taking Sri Lanka’s condominium industry into a new frontier.”

Commenting on the decision to partner with Sanath Jayasuriya, he added, “When looking for a voice to represent GHR’s ethos, Sanath Jayasuriya was the natural choice. Just as Sanath disrupted traditional international cricket and redefined how the world viewed the opening overs, GHR challenged traditional approaches to real estate and established a new benchmark in luxury living. This partnership represents a true convergence; Two Gamechangers, A New Beginning.”