Sri Lanka Electricity Board Reports Rs. 594.368 Billion Loss Over Eight Years

30-Sep-2025

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It was revealed in the COPE committee that the Sri Lanka Electricity Board incurred a loss of Rs. 594,368 million during the period from 2014 to 2022.

The committee, chaired by Nishantha Samarawera, convened last week in the parliamentary complex to review the Auditor General’s reports for 2022 and 2023, as well as operational reports of the Electricity Board.

Based on the Auditor General’s report, several factors contributing to the board’s losses were identified, with a major cause being certain monitoring measures obtained externally despite sufficient internal staff.

Due to ongoing losses, a single significant increase in electricity tariffs in 2022 caused considerable public hardship. However, by 2023, the board was reported to have returned to profitability.

During 2022, electricity supply was interrupted for 18 hours daily. Officials noted that supply disruptions occurred due to the board failing to pay dues to the Sri Lanka Petroleum Corporation on time, rather than infrastructural issues. 

The committee chairman questioned the decision to increase tariffs and provide uninterrupted 24-hour electricity.