A great effort should be taken to bring down the electricity generation cost as it has been revealed that 68 per cent of the electricity tariff is the electricity generation cost, Power and Energy Minister Kanchana Wiesekara said.
Under the moves being taken to bring down the electricity generation cost, it has been planned to convert 30 per cent of thermal power to renewable energy soon.
“Measures to increase the contribution from renewable energy to the national power requirement is in process. As part of this move around 30 per cent of thermal power will be converted to renewable energy, which will help to bring down the electricity generation cost,” the Minister said.
Besides, attention has been drawn on introducing more renewable energy sources apart from commonly available green energy sources. Under this green hydrogen and a few others are considered. The Minister added that introducing a cost reflective pricing system was a challenge but anyhow the Ministry could overcome it. The cost reflective pricing system will help the Ministry to bare the electricity generation cost and provide continuous supply of electricity while reducing the burden on the Treasury.
Minister Wijesekara said that the President will implement a road map on power and electricity sector in coming May, more measure will be taken to streamline the sector aiming to provide cost effective productive service.