Middle East Conflict Drives Up Power Generation Costs, Sri Lanka to Increase Electricity Prices by 5/11

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(Central News Agency, Colombo, 10th, Comprehensive Foreign Report) Sri Lanka's Public Utilities Commission announced today that due to the Middle East conflict pushing up the cost of thermal power generation, electricity prices will increase by up to 18% starting tomorrow.

According to AFP, users consuming more than 180 units (kilowatt-hours) of electricity per month will have to pay an additional 18% on their electricity bills starting tomorrow; users consuming less than 180 units per month will not be affected.

The Public Utilities Commission of Sri Lanka stated in a statement today: "This adjustment applies to industries, hotels, businesses, government agencies, and religious establishments with a monthly electricity consumption exceeding 180 kilowatt-hours."

This price hike comes after a 40% increase in electricity prices last month. Since the outbreak of the Middle East conflict, Sri Lanka has adopted a series of countermeasures.

After disruptions to energy supply, Sri Lanka also increased fuel prices by over 35% and implemented fuel rationing. According to official data, soaring energy prices have caused inflation to more than double, reaching 5.4% in April.

Sri Lanka is currently still slowly recovering from the 2022 economic crisis, when the country exhausted its foreign exchange reserves and struggled to import essential goods such as food, fuel, and medicine.