Sri Lanka’s electricity consumption has reduced by 20 percent after the latest 66 percent tariff hike was imposed on February 15, the regulator Public Utilities Commission of Sri Lanka (PUCSL) said.
The lower demand is likely to threaten Sri Lanka’s economic revival despite the approval of a $3 billion loan from the International Monetary Fund (IMF) under strict conditions including market-reflecting energy prices.
The spending on energy has more than doubled in Sri Lanka due to sharp upward price revision in the laat 12 months.
