Colombo, Dec 20 (IANS): The Sri Lankan government will reduce the price of electricity during the next tariff revision in January 2024, Minister of Power and Energy Kanchana Wijesekera told journalists.

Addressing a press briefing at the Presidential Media Center, Wijesekera said on Tuesday that the state-owned electricity producer, Ceylon Electricity Board (CEB), is producing electricity mostly using hydropower.

He added that there was a tariff hike in October because they were generating electricity using thermal power at that point, and thermal power was very expensive, Xinhua news agency reported.

The weather was dry then, but in the past few months, Sri Lanka has received a lot of rain, he said.

Rainfall is expected to continue for two more weeks, and they will decide on the tariff reduction based on the CEB balance sheet in December, the Minister added.

Sri Lanka is now producing more than 60 per cent of its electricity through hydropower, according to the CEB data.