The new Sri Lanka Electricity Bill to generate, transmission, distribution, trade, supply, and procurement of electricity has received the Speaker’s endorsement on Thursday (27).
The new Sri Lanka Electricity Bill was passed in Parliament three weeks ago.
The new Electricity Bill has become an Act with the endorsement from the Speaker of the Parliament and accordingly the new Act comes into effect from Thursday (27).
This landmark legislation aims to implement comprehensive reforms in Sri Lanka’s electricity industry including the establishment of the National Electricity Advisory Council (NEAC) and designation of the Public Utilities Commission of Sri Lanka (PUCSL) as the industry regulator, under the key provisions of the bill.
Ceylon Electricity Board (CEB) sources said the Bill mandates the creation of corporate entities under the Companies Act No. 07 of 2007 to manage the electricity generation, transmission, distribution, trade, supply and procurement of electricity. The new Act repeals the CEB Act No.17 of 1969 and the Sri Lanka Electricity Act No.20 of 2009, he added.
Dharma Sri Abeyratne
