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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka power authority not to extend contracts with small scale private power producers

Sri Lanka power authority not to extend contracts with small scale private power producers

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Apr 23, Colombo: Sri Lanka Minister of Economic Development Basil Rajapaksa said the government has decided not to extend the agreements with the small scale power generating companies from which the state-owned power monopoly Ceylon Electricity Board (CEB) purchases power.

During the meeting between President Mahinda Rajapaksa and the heads of media institutions held yesterday, the Secretary of the Ministry of Power and Energy M. M. C. Ferdinando has pointed out that CEB spends Rs. 110 billion to purchase power from the small scale private sector power producers.

Minister Basil Rajapaksa said at the discussion that the agreements with some of these Small scale power companies, which provide more costly oil-based power, have been signed by the previous government in 1993 and they are valid for 25 years.

The President said at this dialogue that the government would be able to provide relief to electricity consumers by next year when the coal-based power plants begin to add electricity to the national grid.
http://www.colombopage.com/archive_13A/Apr23_1366686697CH.php

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
What are these companies ?

SPEN and HWPR involved?

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