SC Orders CEB to Pay Interest on Consumer Deposits

COLOMBO (News 1st); The Supreme Court has issued an order to the Ceylon Electricity Board (CEB) to pay annual interest on security deposits collected from consumers when providing electricity connections. 

This decision was made following fundamental rights petitions filed by the CEB and the Association of Electricity and Renewable Energy Consumers.

According to the motion submitted by the CEB on January 30, 2024, the Supreme Court has mandated that the CEB pay an annual interest rate of 11.67%, as determined by the Central Bank of Sri Lanka, to both residential and other electricity consumers.