The Ceylon Electricity Board (CEB) has reported a Rs. 18 billion loss for the first quarter of 2025, according to its interim financial report. This marks the first loss recorded by the state power supplier after posting profits for five consecutive quarters since Q4 2023.
The report shows a sharp decline in revenue, with earnings dropping by 44% compared to the same period last year—from Rs. 167 billion in Q1 2024 to Rs. 93.9 billion in Q1 2025.
An electricity tariff reduction was implemented on January 17 this year, following a decision by the Public Utilities Commission of Sri Lanka (PUCSL) after public consultations held between December 27, 2024, and January 10, 2025. The 20% tariff cut is applicable for the first six months of 2025.
The CEB’s losses come amid a recent recommendation by the International Monetary Fund (IMF) urging Sri Lankan authorities to adopt cost-recovery electricity tariffs to minimize financial risks.
The next electricity tariff revision is scheduled for June 2025, with energy experts expecting an increase of around 15%. President Anura Kumara Dissanayake also hinted at a possible tariff hike during a recent television program. (NewsWire)
CEB records Rs. 18 billion loss in Q1 2025 after posting profits for 5 consecutive quarters pic.twitter.com/on6Be2BHTO
— Ada Derana (@adaderana) May 16, 2025
The post CEB records Rs. 18 bn loss in Q1 2025 after 5 profitable quarters appeared first on Newswire.