5. Public Utilities Commission of Sri Lanka to be the Regulator of the Electricity Industry

grant licences to persons authorised to engage in generation, transmission including the National

determine the conditions of licences and modify such conditions and revoke the licences for non-compliance with or contravention of such conditions;

monitor the performance of licensees including the compliance with consumer service standards;

make enforcement orders to secure compliance with conditions or requirements in the licences;

assist the Minister in terms of sections 13 and 30

inquire into and take necessary actions to prevent anticompetitive market practices, mergers and acquisitions and abuse of dominant positions;

resolve disputes specified in subsection (1) of section 46;

ensure the safe operation of the electricity supply network by issuing safety guidelines and directions to be followed by licensees and electricity consumers and enforce such guidelines and directions;

promote efficiency improvement in electricity supply value chain and promote demand side energy efficiency improvement;

periodically set the feed in tariff, the power purchase tariff from the generation licensees, the bulk sale tariff of the National System Operator to the distribution licensees, the transmission tariff and open access charges payable to transmission and distribution licensees, the end user consumer tariff consisting of distribution tariff (i.e. for network costs of distribution licensees) and supply tariff (i.e. for power purchase tariff of distribution licensees) and the allowed revenue to be recovered by transmission and distribution licensees;

make recommendations to the National System

ensure cost reduction in power purchase cost of the National System Operator and distribution licensees is achieved through adoption of open competitive procurement of new generation capacity in accordance with the Long Term Power

undertake the dispatch audit of generator dispatch undertaken by the National System Operator;

review and approve the commercial terms of new generation, transmission and energy storage capacity undertaken by the National System

approve the annual power procurement plan submitted by the National System Operator and monitor any deviations from the approved annual power procurement plan.