2. Objects of the Act

The objects of this Act, in relation to the generation, transmission, distribution, trade, supply and procurement of electricity shall be -

to ensure improved Electricity Industry performance through independent and accountable corporate entities responsible for the provision and maintenance, of a well-coordinated, efficient and economical system of electricity supply throughout Sri Lanka at all times, through transparent policies;

to facilitate the establishment of independent and accountable corporate entities for the efficient supply of electricity throughout the country and to protect the interests of the consumers;

to promote and facilitate the establishment and functioning of the Wholesale Electricity Market;

to promote competition in the Electricity Industry by eliminating preferential treatment and barriers to entry, allowing open competitive procurement of new generation capacity including renewable energy, implementing transparent, merit order dispatch of generation capacity and providing non-discriminatory access to the transmission network for all types of generation technologies and consumers;

to ensure that entities to whom licences have been granted under this Act (hereinafter referred to as

to ensure that all reasonable demands for electricity, including future requirements for electricity are met, whilst ensuring efficient use of electricity supplied to all premises;

to protect the public from dangers arising from the generation, transmission, distribution, trade, supply and procurement of electricity by improved safety standards, reliability and quality of services;

to identify the tariff principles to ensure affordability of electricity to all consumers and financial viability of licensees; and

to provide for the decarbonization of the