The Ceylon Electricity Board (CEB), giving an undertaking before the Supreme Court today (Feb.13), said it is ready to pay an interest for the year 2023 for the security deposits it collects from the consumers when providing a new service connection.

This was communicated when a fundamental rights (FR) petition filed by the Electricity and Renewable Energy Consumers’ Association was called before a three-member bench of the Supreme Court.

Justices S. Thurairajah, Gamini Amarasekara and Yasantha Kodagoda sat for the proceedings today.

Representing the CEB, Deputy Solicitor General Nirmalan Wigneswaran told the judge bench that his client is ready to pay an annual interest of 11.67% for the year 2023 for the security deposits collected from the consumers for installing a new service connection.

As per the undertaking given by the state-owned electricity supplier, this annual interest is planned to be paid retrospectively, starting from January 2024.

Subsequently, the judge bench fixed further hearing of the petition for March 21.

Through the FR, the petitioners have pointed out that the CEB should pay an interest to the consumers for the security deposits collected for installing a new service connection. However, as the CEB is yet to make such payments, the Association put forward the petition, seeking a Supreme Court ruling mentioning that their fundamental rights have been violated.