Monday May 13, 2024
Monday May 13, 2024
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Top officials of the Ceylon Electricity Board including Chairman M.C. Ferdinando (second from right) at the briefing to journalists organised by the Presidential Media Centre yesterday
Top officials of the energy sector yesterday described the US New Fortress-Yugadanavi deal as a great investment opportunity for Sri Lanka, insisting it is necessary to consider the long-term advantages of power generation.
The Ceylon Electricity Board (CEB) Chairman M.C. Ferdinando, along with General Manager M.R. Ranatunga and Lanka Electricity Company (LECO) Chairman Athula De Silva spoke on the controversial power plant to journalists at a briefing titled ‘The Truth about the Yugadanavi Project,’ held at the Presidential Media Centre via video technology.
They emphasised that Sri Lanka should transform to intermediate energy sources backed by new concepts and new technology, such as low-cost LNG power generation and green energy methods.
“The transformation to intermediate energy sources through the Yugadanavi power plant is a profitable project for the Government as well as for the people of the country. The short-term issues should be ignored to take advantage through this investment,” they said.
At present, over 95% of the country’s electricity demand is being catered to. Therefore, low-cost power plants need to be built to meet the people’s electricity needs, the officials noted, adding that delaying them would reflect in unavoidable electricity tariff hikes.
“The daily electricity demand is increasing rapidly, and the cost of production is skyrocketing too. At present, the Government is still providing electricity to consumers at a concessionary price of Rs. 16.65 per unit. Despite the unit cost, electricity has increased to Rs. 23-24 and it will be increased to Rs. 25 and more by next year,” Ferdinando explained.
He also said that the country had lost many beneficial opportunities over power generation projects, which could not be successful due to resistance and various reasons.
Thereby, Ferdinando asserted that it was vital that power generation methods be enhanced so as to ensure uninterrupted supply in future.
LECO Chairman de Silva said the success of the Yugadanavi investment project would facilitate both local and foreign industrialists to consume electricity at a lower cost, making Sri Lanka attractive for investors to set up factories.
CEB General Manager Ranatunga said 40,000 million units of electricity were required per year to fulfil the total electricity demand, whilst noting that it would only be possible if there was a cost-effective power generating method to provide electricity at a concessionary rate to end consumers.
When asked if leaders of the CEB trade union held discussions with the top officials on their concerns over the Yugadanavi power plant, Ranatunga said that no trade union had requested for any. He also said the authorities were ready to explain the technical process and benefits of the Yugadanavi project to any of the concerned parties opposing it.
Ranatunga also assured that there would be no power cuts, adding that the threats by the trade unions should not be taken seriously.
“I have already issued a circular not to curtail power supply until further notice, even for a repair. As electricity is recognised as an essential service, the leave of all workers has also been cancelled at present. However, not all trade unions have joined this campaign, but we are carefully observing the situation.”
He said that if the unions were planning on a trade action, they usually notify the management through a letter and so far such information had not been shared with him.
Power Ministry Additional Secretary Dr. Susantha Perera also participated in the media briefing.
