An analysis published this week reveals that Sri Lanka currently holds the position of having the highest household electricity bills in South Asia, with rates ranging from 2.5 to 3 times higher than those in neighboring countries.
The analysis, conducted by Verité Research and featured on PublicFinance.lk, considered the electricity charges for households consuming 100, 200, or 300 units of electricity. Notably, only provider fees were factored into the calculation, excluding additional government taxes such as the social security tax imposed in Sri Lanka.
Comparatively, Pakistan ranks second in the region for household electricity rates, with charges approximately 50% lower than those in Sri Lanka. For households consuming 300 units, Sri Lanka’s electricity bills surpass those of Pakistan by a staggering 97%.
The Sri Lanka Electricity Board has raised tariffs in line with commitments made to the International Monetary Fund (IMF) program. Despite a planned tariff reduction of 4% or less slated for February 2024, experts argue that this reduction is insufficient to significantly impact consumer bills. Consequently, even after the reduction, Sri Lankan households are expected to continue facing the highest electricity rates in South Asia.