EFFECTIVENESS OF POWER SECTOR REFORMS ON SOCIAL ASPECT OF CORPORATE SUSTAINABILITY OF ELECTRICITY GENERATION IN SRI LANKA

Abstract

Sri Lanka has monopolistic electricity sector, which has no competition within the business. Hence, the introduction of power sector reforms (PSR) to the electricity sector was very important to improve the efficiency of the sector. With the enactment of the Sri Lanka Electricity Act, PSR was introduced in 2009 and subsequent amendment in 2013. However, it has not clearly identified or recognized the effectiveness of the PSR on social aspect of corporate sustainability (SACS) of electricity generation. Since reforms were introduced way back in 2009, it is vital to understand its effectiveness to identify the necessary amendments to reshape it. The effectiveness of PSR is measured with the electricity customers’ opinions using the data collected through scale with trained artificial neural network (ANN) model. According to the findings present, PSR has less effectiveness on SACS in Sri Lankan context. However, some of the dimensions of SACS have been improved with some of the