Electricity: CEB Introduces 'Time-of-Use' Tariff for Large Consumers

The principle of the Time-of-Use Tariff is to shift electricity consumption hours to take advantage of lower rates while simultaneously easing the burden on thermal power plants. This new scheme will soon be implemented by the Central Electricity Board (CEB) as part of the Carbon Neutral Renewable Energy Scheme. It is primarily aimed at large consumers such as shopping centers, hotels, large companies, and banks.

This afternoon, the Minister of Energy, Patrick Assirvaden, met with the press to present the details of this new mechanism.

Companies that participate in this scheme will benefit from a higher feed-in tariff when they sell their electricity production back to the CEB. Previously, the price per kilowatt-hour was Rs 1.86, but it will now be paid at Rs 4.20.

Participation in the scheme will be voluntary during the first year.