The Cabinet of Ministers in Sri Lanka has given its approval for a significant change in the nation's electricity tariff review process. The Department of Government Information (DGI) has announced that electricity tariffs will now be revised every three months, down from the previous review period of six months.

The responsibility for the electricity tariff review process falls under the purview of the minister in charge of electricity, who is tasked with developing a general policy guideline regarding the supply of electricity. This policy guideline requires approval from the Cabinet of Ministers, as specified by the Sri Lanka Electricity Act No. 20 of 2009.

Previously, the established general policy guidelines mandated a tariff review every six months. However, recognizing the challenges and inconveniences faced by the public due to this schedule, the Cabinet of Ministers has now approved a proposal put forth jointly by the President in his capacity as the Minister of Finance, Economic Stabilization, and National Policies, along with the Minister of Power & Energy. This proposal aims to shorten the tariff review period to a more frequent three-month interval.

This decision is expected to have implications for electricity consumers and suppliers alike. A shorter review period allows for more responsive adjustments to electricity tariffs based on evolving market conditions and economic factors. It provides greater flexibility to manage electricity costs and ensure the sustainability of the power supply.