The Cabinet of Ministers granted approval today to the proposed Electricity Sector Reforms Bill, paving the way for a sweeping transformation in the nation's power sector. The approved bill is now set to be gazetted and subsequently presented in Parliament for further deliberation and approval.

The proposed reforms signal a paradigm shift in the electricity sector, with far-reaching implications for the structure and operation of the Ceylon Electricity Board (CEB). Once enacted, the new Electricity Act aims to facilitate the unbundling of CEB services, heralding a restructured framework designed to enhance efficiency, transparency, and accountability in the energy sector.

Key highlights of the anticipated reforms include the introduction of private sector participation across the entire spectrum of electricity generation, transmission, and distribution. This strategic move is expected to inject dynamism into the sector, fostering competition and innovation while meeting the growing energy demands of the nation.

The unbundling of CEB services will involve the separation of functions, such as generation, transmission, and distribution, into distinct entities. This restructuring is envisioned to streamline operations, improve service quality, and create a more agile and responsive electricity ecosystem.

The reforms also emphasize the importance of efficiency and transparency, seeking to establish a modern and resilient power sector capable of adapting to emerging challenges and technological advancements.