The net profit of Rs 93 Billion recorded by June 2024 by the Ceylon Electricity Board (CEB) has been used to settle payments for various power projects, Minister of Power and Energy Kanchana Wijesekera said.
Taking to ‘X’, the minister said the net profit was utilized to pay the outstanding amounts to renewable energy developers, thermal power plants, coal procurement, local suppliers, dues to major projects, rooftop solar, and short-term banking facilities.
Minister Wijesekera further said the electricity consumer tariffs have been revised and reduced considering the other profits after the settlement of payments.
The minister’s clarification comes after it was reported that the CEB has reported a net profit after taxes in the April-June quarter of this year and that the net profit was reported after paying Rs. 34.53 billion in taxes.
Previously, the CEB reported a net profit after taxes of Rs. 84.67 billion in the January – March quarter. It was further reported that the CEB has recorded a total profit of Rs. 119.20 billion in the first half of 2024. (Newswire)
