New regulatory institution for CPC

Talks are underway to establish a separate regulatory institution for the Ceylon Petroleum Corporation (CPC), which will function as a price regulator in the fuel and energy sector, Power and Energy Minister Kanchana Wijesekera told Parliament yesterday.

He said that price regulations are currently done by the Power and Energy Ministry and both price regulation and distribution had been done by the CPC earlier.

He said a separate regulatory institution is important as there will be a highly competitive environment with newcomers entering the market. The Minister said the Public Utility Commission of Sri Lanka (PUCSL) is entrusted with the task of regulating the power sector while the new regulatory institution will be vested with the task of regulating the fuel and energy sector.

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