| Short Title: | Sri Lanka Electricity Act, No. 36 of 2024 |
| Legislature: | Parliament of Sri Lanka |
| Long Title: | An Act to provide for the implementation of reforms to the electricity industry; to provide for the establishment of the National Electricity Advisory Council; to provide for the Public Utilities Commission of Sri Lanka, established under the Public Utilities Commission of Sri Lanka Act, No. 35 of 2002 to be the regulator for the electricity industry in terms of this Act; to provide legislative measures applicable to the incorporation of corporate entities under the Companies Act, No.07 of 2007 in whom all activities connected to the generation, transmission, distribution, trade, supply and procurement of electricity shall vest; to specify the processes to be applicable to all related activities; to repeal the Ceylon Electricity Board Act, No. 17 of 1969 and the Sri Lanka Electricity Act, No. 20 of 2009 and to provide for all matters connected therewith or incidental thereto |
| Citation: | Sri Lanka Electricity Act, No. 36 of 2024 |
| Territorial Extent: | Sri Lanka |
| Enacted By: | Parliament of Sri Lanka |
| Date Enacted: | June 6, 2024 |
| Date Signed: | June 27, 2024 |
| Signed By: | Speaker of the Parliament |
| Date Effective: | Various dates for different sections |
| Administered By: | Public Utilities Commission of Sri Lanka (PUCSL) |
| Bill: | Sri Lanka Electricity Bill |
| Bill Citation: | Sri Lanka Electricity Bill |
| Introduced By: | Minister of Power and Energy |
| Date Introduced: | April 17, 2024 |
| 1St Reading: | April 25, 2024 |
| 2Nd Reading: | June 6, 2022 |
| 3Rd Reading: | June 6, 2022 |
| Repeals: | Ceylon Electricity Board Act, No. 17 of 1969 Sri Lanka Electricity Act, No. 20 of 2009 |
| Related Cases: | Supreme Court Determination on the Bill |
| Supreme Court: | Supreme Court |
| Keywords: | Electricity reform, Regulation, Restructuring, Market competition, Renewable energy |
| Status: | not fully in force |
The Sri Lanka Electricity Act, No. 36 of 2024 is a landmark legislative act enacted by the Parliament of the Democratic Socialist Republic of Sri Lanka. Certified on 27th June 2024, the Act introduces substantial reforms to the electricity industry in Sri Lanka, aiming to improve efficiency, attract investment, and promote the use of renewable energy sources. [1]
The Act was enacted to implement comprehensive reforms in the country's electricity sector. It establishes the National Electricity Advisory Council and designates the Public Utilities Commission of Sri Lanka (PUCSL) as the primary regulator. The Act aims to facilitate the incorporation of corporate entities responsible for the generation, transmission, distribution, trade, supply, and procurement of electricity, promoting market competition and private sector investment.
The need for reform in Sri Lanka's electricity sector had been recognised for several years. Previous legislation, including the Ceylon Electricity Board Act, No. 17 of 1969, and the Sri Lanka Electricity Act, No. 20 of 2009, were deemed insufficient to address the evolving challenges of the industry, such as inefficiencies, financial sustainability, and the integration of renewable energy sources.
The primary objectives of the Act include:
The Act specifies the roles and responsibilities of various stakeholders, including the National Electricity Advisory Council, PUCSL, and newly formed corporate entities. It also outlines the procedures for formulating and implementing national electricity policies, tariffs, and long-term power system development plans.
The Act marks a significant shift towards a more competitive, efficient, and sustainable electricity sector in Sri Lanka. By encouraging private sector participation and promoting renewable energy, the Act aims to meet the growing electricity demand and contribute to the country's economic development and environmental sustainability.