Electricity tariffs would not be increased despite the fuel price hike, Minister of Power and Renewable Energy, Ranjith Siyambalapitiya told The Island yesterday.
“The fuel prices have increased, reflecting the world market prices. However we have not decided to increase the price of electricity. The government is focused on managing various fluctuations in the world market, while ensuring minimum inconvenience to the people.”
Last week, the government declared that fuel prices would be revised every two months under the new Cabinet approved pricing formula. According to the new formula the fuel prices would vary every two months based on Singapore Oil Price index.