Abstract:
The need for energy and power is anticipated to increase as the economies and populations of several developing nations in Asia and the Pacific continue to expand. Sri Lanka is likewise preparing to restructure the power industry. To support equitable and environmentally sustainable economic development, it is crucial not only to increase energy accessibility and supply electricity to everyone but also to improve the efficiency and responsiveness of their power sectors. The transition to a reformed power sector has the potential to generate significant benefits, including increased efficiency, reliability, and sustainability. However, this transition also presents a range of challenges, including regulatory hurdles, political resistance, and the need for substantial investment. It is vital to adopt a holistic and strategic strategy that takes into account all of the available options in order to maximize the potential advantages of power sector reform and get over these obstacles. This paper reviews the necessity of the reformation, the method of restructuring the power sector reform, benefits and identifies the key challenges facing this transition and explores the various strategies and options that can be employed to address these challenges. The paper concludes with recommendations for policymakers, regulators, and stakeholders on how to navigate the complexities of power sector reform and ensure that this transition delivers maximum benefits for all.
