“We industrialists, hoteliers all will know. In five years time, yes even a 100 percent increase. No problem. Then we can plan for it.”
Mitthapala said electricity amounted to about 17 percent of overall expenses of a hotel. He said one investor had dropped a project because he could not assess the feasibility of the project due to uncertainty over power tariffs.
Sri Lanka is supposed to revise tariffs every six months under the power regulatory law, but after early 2011 it was not done.
The lack of regular revisions led to a balance of payments and economic crisis and in 2012 February a fuel adjustment was slapped on. Now in April 2013 a revision is made.