COLOMBO (News 1st); In a major step toward reforming Sri Lanka’s power sector, the Ministry of Power and Energy has announced the appointment of Board of Directors for four newly established companies under the provisions of the new Electricity Act. Each company will be governed by a seven-member board. The four entities are: National System Operator (Private) Limited National Transmission Network Service Provider (Private) Limited Electricity Distribution Lanka (Private) Limited Electricity Generation Lanka (Private) Limited According to the Ministry, chairpersons for these boards are expected to be appointed within the coming week. Employees of the Ceylon Electricity Board (CEB) have been given the option to transfer to these new companies voluntarily, with the deadline set for October 27. Those unwilling to make the transition will be eligible for retirement under a compensation scheme. The restructuring, mandated by the new Electricity Act, divides the CEB into four specialized entities responsible for generation, transmission, distribution, and system operations. The Ministry emphasized that this move is aimed at improving efficiency, transparency, and service delivery in the energy sector. However, several trade unions continue to engage in industrial action, demanding clarity and assurance regarding employee benefits and entitlements during the transition. Union representatives insist that all dues and compensations be formally guaranteed before any structural changes are finalized.
Source: News 1st
