PUCSL to regulate more

Thursday, 26 April 2018 00:10 - - {{hitsCtrl.values.hits}}

More important utilities and key products are billed to come under the purview of the Public Utilities Commission (PUCSL) which is currently regulating only the power sector.

At present, the commission acts mostly as a shadow regulator, by way of advising and providing technical assistance to prepare the regulatory framework, standards and procedures for implementations. With the new Act, it will vest full authority to the PUCSL to regulate the lubricant, petroleum and natural gas industries. PUCSL confirmed yesterday that it has handed over the final draft of the Petroleum Special Provisions Act to the Petroleum Development Ministry, and is scheduled to be submitted for cabinet approval soon.

“The final draft of the Petroleum Special Provisions Act, approved by the Attorney General, has now been handed over to the Petroleum Development Ministry. It will soon be submitted to the Cabinet for approval,” said PUCSL Director General Damitha Kumarasinghe

On Tuesday (24 April), the regulator conducted the final phase of public consultation on policy and regulatory framework for the lubricants market, which saw more than 300 people participating in the discussion while 37 members of the public, industrialists, manufacturers, officials and experts expressed their views on the proposed mechanisms.

At the final phase of public consultation, the private sector suggested that full power needed to be vested with the commission and not with the Petroleum Resources Development Ministry.

He also said that the commission has embarked on the initial work to draft amendments to the National Water Supply and Drainage Board Act, which will give authority to PUCSL to be accountable for the sector.

The PUCSL will commence public consultation on all nine provinces to identify the issues of the public relating to the electricity, water and petroleum sectors by the end of August.

“For electricity, those issues will be converted into a regulatory framework. While, for the water and petroleum sectors, we will prepare the regulatory framework, standards and procedures that are required to have a better water and petroleum supply and submit it to the relevant ministries for implementation,” Kumarasinghe added.