COLOMBO: According to the Public Utilities Commission, Sri Lanka will raise energy tariffs by up to 18% starting Monday to cover additional costs of producing electricity from thermal plants due to the Middle East conflict.
Starting on Monday, those who use more than 180 units (kilowatt hours) of power each month will have to pay an extra 18% on their bills; those who use less will not be impacted. Industries, hotels, businesses, government institutions, and places of worship that consume more than 180 units per month will be subject to the increase,” the commission said in a statement on Sunday.
The action is the most recent in a string of actions the island nation has taken in the wake of the Middle East conflict. The most recent rise follows a 40% tariff increase that was implemented last month.
In response to interruptions in the energy supply, Sri Lanka has also increased fuel prices by over 35% and rationed the same. According to official data, rising energy costs have caused inflation to more than quadruple, reaching 5.4% in April. After running out of foreign exchange reserves to cover the cost of necessary imports including food, fuel, and medications in 2022, Sri Lanka has been gradually recovering.
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