It was revealed at the COPE Committee that the Ceylon Electricity Board has incurred a loss of nearly Rs. 300 million annually due to the purchase of electricity from the Embilipitiya Ace Power Plant.
This financial loss is due to the fact that the money spent on the construction of the power plant had been paid off by 2015, but still included the payments made for the construction of the power plant when purchasing electricity.
This was revealed when the Ceylon Electricity Board was summoned before the Parliamentary Committee on Public Enterprises (COPE) yesterday (10).
Embilipitiya Ace. Power was purchased from the Power Plant from 2005 to 2015 by setting the price per unit of electricity, covering the amount invested in the power plant and the cost of fuel to generate electricity.
Embilipitiya Ace. It was revealed at the COPE Committee that although the total amount invested in the power plant had been paid off by 2015, payments for a unit of electricity had been made according to an old price formula, including the amount invested every time electricity was purchased thereafter.
COPE Committee Chairman, Member of Parliament Prof. Charitha Herath
"Purchase of electricity from Embilipitiya S Power Plant. What is the status of this? Is there a difference between the purchases?"
Palitha Hendahewa, Additional General Manager (Transmission) of the Ceylon Electricity Board;
"The unit price is currently Rs. 95.20"
Acting General Manager of the CEB Dr. Rohantha Abeysekera,
"This includes a capacity charge and an energy charge. The capacity charge is the same as the original value. The energy charge varies with the price of diesel."
Dr. Harsha de Silva, Member of Parliament, Member of the COPE Committee
"Now they have recovered the capital cost
Enough, right? How many years did you buy electricity from that power plant?
“If the original agreement had existed from 2005 to 2015
That means the initial payments have been made. "
"Now it's 2022. Now it is being said that there are capacity values and energy values within the Rs. 95 and Rs. 90 purchases."
Prof. Charitha Herath,
"The price given to us by PUCSL for the month of June is now 101.16 rupees.
Another official said,
"If Embilipitiya and Matara were not taken into account, there was a risk that the power cut in the Southern Province would increase to 10 hours. "
Prof. Charitha Herath,
How Many Units Does Ace Power Take Now?
An officer,
"Between 40 and 60 million units."
Dr. Harsha de Silva,
"Let's say 50 million units. Look at the difference of 6 rupees per 50 million units. 300 million rupees. The announced prices are different. Therefore, an audit should be done. All power plants should be audited."
Prof. Charitha Herath,
"Has the Adani project come as a proposal or recognition from the Government of India?"
Chairman of the Ceylon Electricity Board M. Mr. C. Ferdinando stated,
"The President brought me in on November 27 and told me to give this to Adani. Indian Prime Minister Modi is forcing me to give this. Then I said at that time that this is not an issue that belongs to me or the CEB. . "
"That is why I wrote a letter. The President is ordering me to do this. The Secretary to the Ministry of Finance said do this. This is not a CEB issue."
He said in the MOU issue ..
We gave him to do with his money. But we said it had to be approved by the CEB.
If not approved, it will end there. This is what happens between governments. Should be discussed there. Regarding the lease price in the bill .. it has to be approved by PUCSL. "
COPE Committee Member Patali Champika Ranawaka,
"It is not Gautam to Gotabhaya who is among the governments. There is a system in place between the governments. That's the decent thing to do, and it should end there. "
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