Lanka Electricity

What Lanka Electricity does

Lanka Electricity Company (Private) Limited (LECO) is a state-owned electricity distribution utility established in 1983, operating under Sri Lanka's Electricity Act and regulatory oversight of the Public Utilities Commission of Sri Lanka (PUCSL). It is one of only five licensed distribution licensees in Sri Lanka and holds the exclusive franchised service area along the Western coastal belt — covering Colombo, Gampaha, Kalutara, and parts of Galle districts. LECO distributes and supplies electricity to approximately 642,000 customers through a medium- and low-voltage network valued at over LKR 15 billion, supported by 7 branch offices, 23 customer service centers, a 24-hour call center, and a multi-channel payment network spanning 16+ banks, mobile money, supermarkets, kiosks, and online portals. In 2024 the company billed LKR 67,218.37 million in revenue from 1,727.40 GWh of units sold.

LECO's core technology stack includes smart metering infrastructure deployed via its 70%-owned subsidiary Ante LECO Metering Company (Sri Lanka's only local electricity meter manufacturer, certified to IEC 62052-11 and IEC 62053-21, KEMA-tested), three renewable energy net metering schemes (Net Metering, Net Accounting, Net Plus) that have onboarded 31,317 prosumer accounts with 370,487 kWp of rooftop solar capacity, a pioneering microgrid pilot at the University of Moratuwa, and EV DC fast charging stations at Nugegoda, Ambalangoda, and Kandana. The company also operates a City & Guilds-certified technical training academy and pursues digitalization through mobile apps (My LECO, LECO Charging), SMS services, and e-billing infrastructure.

LECO generates revenue primarily through regulated electricity tariffs approved by the PUCSL across nine customer categories — Domestic (tiered), Industrial, General Purpose, Hotel, Religious, Government, Street Lighting, Agriculture, and EV Charging — supplemented by EV charging usage fees, ancillary services (new connections, meter testing, relocations), and revenue from its subsidiary's meter manufacturing business. Strategic positioning is centered on three priorities: achieving world-class distribution losses (3.36% in 2024, down from over 25% historically), supporting Sri Lanka's 70% renewable energy target by 2030 through rooftop solar aggregation and microgrid development, and digital transformation to support smart grid modernization, with a $57.4M ADB-financed rooftop solar aggregation project approved in June 2026.

Name

Lanka Electricity

Legal name

Lanka Electricity Company (Private) Limited

Website

https://leco.lk

Company type

Private

Founded year

1983

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Lanka Electricity Company (LECO) is a state-owned, regulated electricity distribution utility serving approximately 642,000 customers across Sri Lanka's Western coastal belt under an exclusive franchise. It distributes power through a medium- and low-voltage network, operates the country's only local smart meter manufacturer, and is scaling rooftop solar and EV charging infrastructure.

Ownership category

akta.pro rank

Product category

Electricity Distribution Services

NAICS

Electric Power Generation, Transmission and Distribution (2211), Electric Power Transmission, Control, and Distribution (22112), Solar Electric Power Generation (221114), Utilities (22)

SIC

Electric Services (4911), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Green Tariffs & Utility Renewable Supply Programs (EUAGADAJ)

akta.pro secondary industries

Transmission Interconnection & Line Works (Gen-Tie Lines, Overhead/Underground Lines) (EUAMAFAF), Electrical Balance-of-Plant EPC (MV Collection, Cabling, Earthing, Lighting) (EUAEADAB)

Keywords

• Electricity distribution services
• Power utility services
• Smart metering solutions
• Rooftop solar integration
• EV charging infrastructure

Headquarters

HQ city

Colombo

HQ country

Sri Lanka

HQ region

Asia

Offices12 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Supply Chain, Marketing or Sales, Others

Revenue model

1. Electricity Distribution and Supply: LECO distributes and supplies electricity to over 642,000 customers within its franchised Western coastal belt area of Sri Lanka. Revenue is generated through regulated electricity tariffs approved by the Public Utilities Commission of Sri Lanka. Tariffs include fixed charges and energy charges across multiple customer categories (Domestic, Religious, Industrial, Hotel, General Purpose, Government, Street Lighting, Agriculture, EV Charging). Total revenue from billed sales was LKR 67,218.37 million in 2024.

Pricing tiers

Distribution channels10 records

Marketing channels9 records

Core offering

Lanka Electricity Company (LECO) distributes and supplies electricity to over 642,000 customers across the Western coastal belt of Sri Lanka through a regulated medium- and low-voltage distribution network, complemented by rooftop solar net metering schemes, EV fast-charging stations, locally manufactured smart meters, e-billing and customer-service digital platforms, and renewable-energy microgrid projects. Revenue is generated through regulated tariffs approved by the Public Utilities Commission of Sri Lanka across multiple customer categories (Domestic, Industrial, Hotel, General Purpose, Government, Religious, Agriculture, Street Lighting, EV Charging).

Product overview

Lanka Electricity Company (LECO) is a state-owned electricity distribution utility operating since 1983, distributing and supplying electricity to over 585,000 customers across the Western coastal belt of Sri Lanka. The company's product portfolio centers on core electricity distribution services complemented by several digital and energy solutions modules. Key offerings include three Net Metering Schemes (NET METERING, NET ACCOUNTING, and NET PLUS) enabling consumer solar generation, the My LECO Mobile Application for customer self-service, E-Billing with smart meter deployment, EV Fast Charging Stations, Renewable Energy Microgrid Development projects, E-Applications for online service requests, SMS notification services, KIOSK payment networks, and Ante LECO Metering Company for local smart meter manufacturing. The subsidiary Ante LECO produces electricity meters including single-phase and three-phase smart meters with ISO certifications. LECO also operates a Training Centre offering vocational diploma programs.

Differentiator

Problem solved

Functional benefit

Brands

• LECO EV Charging: EV fast charging stations operated by LECO at Nugegoda, Ambalangoda, and Kandana locations
• My LECO App
• LECO e-Billing Service

Products and services

• Electricity Distribution Services

Quantifiable outcome

• Distribution losses reduced to 3.36% in 2024 from over 25% historically, ranking among the best internationally
• +5 more outcomes

Named customers8 records

Segments8 records

Ideal customer profiles8 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered core.

• Electricity Distribution LankacoreStrategic or Co-development Partner · 26 June 2026Electricity Distribution Lanka (EDL) is the other government-owned utility jointly implementing the ADB-funded Rooftop Solar Aggregation and Virtual Net Metering Project with LECO, deploying 25 MWp of rooftop solar capacity through a utility-led model.
• University of VavuniyacoreStrategic or Co-development Partner · 2 October 2025MOU signed for strategic alliance to strengthen collaboration in LECO's digitalization initiatives, renewable energy integration, and AI technology implementation across operational workflows. Partnership focuses on workflow automation, operational efficiency, and establishing comprehensive audit systems. Formalized with senior officials from both institutions.
• Ceylon Electricity Board (CEB)coreStrategic or Co-development Partner · 1 January 2022LECO and CEB are the two government-owned utilities implementing the ADB-funded rooftop solar project. Ante LECO Metering Company supplies the total single-phase electricity meter demand to both CEB and LECO. Over 3 million meters supplied since 2008.
• University of MoratuwacoreStrategic or Co-development Partner · 1 January 2016LECO partnered with University of Moratuwa to implement Sri Lanka's first grid-tied microgrid pilot project. The university hosts the R&D facility used for studies on renewable energy integration and smart grids. ADB Vice-President Dr. Shixin Chen visited the project in January 2022.
• Ante Meter Company Ltd (China)coreTechnology or Integration · 1 January 2008Joint venture established in 2008 between LECO (70% shareholding) and Ante Meter Company of China (30% shareholding) to form Ante LECO Metering Company (Pvt) Ltd - the sole electricity meter manufacturing company in Sri Lanka. Produces single-phase and three-phase smart meters with IEC compliance.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Torrent Power: Indian integrated power utility with regulated distribution franchises in Ahmedabad, Gandhinagar, Surat, Dahej, and Bhiwandi serving ~4 million customers. Comparable in operating a multi-city regulated distribution business with high reliability and AT&C loss performance benchmarks.
• Manila Electric Company (MERALCO): Philippines' largest privately-held electric distribution utility serving ~7.5 million customers in Metro Manila and surrounding provinces under ERC regulation. Comparable as an Asian regulated monopoly distributor that has invested heavily in smart metering and renewable integration.
• Electricity Distribution Lanka (EDL): Co-implementing utility of the ADB-funded Rooftop Solar Aggregation and Virtual Net Metering Project with LECO. Recently spun off from Ceylon Electricity Board as a separate government-owned distribution licensee, making it the most directly comparable Sri Lankan distribution peer.
• National Transmission Network Service Provider (Sri Lanka): Post-CEB restructuring entity responsible for high-voltage transmission in Sri Lanka; directly comparable as another government-owned power infrastructure licensee operating under PUCSL regulation within the same national grid context as LECO.
• Tata Power Delhi Distribution (Tata Power-DDL): Joint venture between Tata Power and Delhi government distributing electricity to ~7 million consumers in North and North-West Delhi under regulated tariffs. Closest comparable regulated metropolitan distribution utility in South Asia with similar operational KPIs focus (AT&C losses, SAIDI).
• CESC Limited: Integrated Indian power utility (RPG Group) distributing electricity to ~3.4 million consumers in Kolkata and adjoining areas under West Bengal regulatory framework. Comparable franchise-scale, regulated tariff model, and distribution-focused revenue mix.

Broad incumbents

• Ceylon Electricity Board (CEB): Sri Lanka's legacy vertically-integrated national utility historically responsible for generation, transmission, and distribution; Ante LECO supplies CEB's single-phase meter demand. Restructured in March 2025 into separate generation, transmission, and distribution entities.
• Tata Power Company: India's largest integrated private power company with generation, transmission, and distribution businesses including the Delhi distribution franchise. Broader incumbent across the value chain rather than purely distribution-focused like LECO.
• Power Grid Corporation of India (POWERGRID): India's central transmission utility operating the interstate transmission backbone. Comparable as a government-influenced power infrastructure operator in South Asia, though focused on transmission rather than end-customer distribution.

Regional players

• NTPC Limited: India's largest state-owned power generation utility and increasingly a renewable energy developer. Not a direct distribution peer but a relevant comparable as a South Asian state-owned power utility executing large-scale ADB/MDB-funded renewable expansion, similar to LECO's ADB-financed projects.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lanka Electricity