The Sunday Leader

CEB Records Rs. 5 Billion Surplus

  • Norochcholai makes US$ 579 million financial saving

By Faraz Shauketaly

The Ceylon Electricity Board has reportedly recorded a surplus of Rs. 5 billion in the last financial year with the use of coal in Phase 1 and 2 of the Norochcholai power plant.

Informed sources within the CEB revealed that the Board was targeting a Rs 6 billion surplus in the coming commercial year. ‘If you take the average price for diesel power at Rs 25 and the average price of coal (Including loan repayment) would be Rs 9.41- a Rs. 15.59 saving, which, calculated with the total units from Phase 1 and 2 which are 4,829,362,200, is a Rs. 75 billion or a US$ 579 million net saving from coal,” the sources added.  Phase 1 of the plant generated 4,513,715,200 million units between the period 2011.02.03 to 2014.05.26. The total generation of Phase 2 from February 2014 to 2014.5.26 has been 315,647,000 million units, according to the CEB.

Chairman of the CEB W. B. Ganegala meanwhile noted that it was evident that ‘without this supply the nation would be plunged into darkness.’

The Chinese government-backed coal power project was started during the war years and granted at 2%, no LIBOR by Exim Bank of China.

The Chinese government recommended China Machinery Engineering Corporation (CMEC) as the contractor which is now a listed company on the Hong Kong Stock Exchange.  Recorded one of China’s top 10 contractors by the Chinese Ministry of Commerce, its recent coal projects around the world including 600 MW in Turkey, 200+ MW in Pakistan, 480 MW in Malaysia, 230 MW in Indonesia, a further 270 MW in Turkey as well as 854 MW in Belarus. CMEC revenue for last year was US$ 3.3 billion.

8 Comments for “CEB Records Rs. 5 Billion Surplus”

  1. gamini samarasinghe

    No Coal will be necessary for little Sri Lanka or big China or big USA!

    Wait a little longer, and long before the end of this year you will all be shown NEW technology!

    Await that day CEB!

    Reform yourselves as Siemens is doing!

  2. Manuelpillai

    The common man is made to pay too much for his electricity consunption when the CEB is making such a huge profit.To get the votes the reduction on the Electricity Charges will come at the time of Election.

  3. CAN WE NOW EXPECT A REDUCTION IN OUR ELECTRICITY BILLS

  4. sara perera

    If there is a 5b surplus, why the hell the Govt still impose fuel charge from the poor customers. Are they waiting to abolish the same till the Presidential Election declares? But this time voters are more educated.

  5. patriot

    Whatever surplus is made it is not available for giving relief by way of lowering tariffs to the suffering consumers because the Govt. needs all and more for their white elephant projects and extravagant. Spending.’-

    • Eng. M.V.R.Perera

      the CEB should go for BOT accelerated coal Power projects as many as needed not only for electricity generation but also for converting all transport to electricity driven and we may save a 1000 million rupees per day

  6. Tariq

    People do not have money to pay electricity bill and food. This government is doing blunder to economy of this country..

  7. gamarala

    The surplus should benefit consumers, not megalomanic projects which are ‘white elephants’.
    India’s massive coal power generation is successful due to financial discipline of each power plant. Our engineers should study same.

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