Tenaga Nasional Bhd (TNB) is keen to re-negotiate the power purchase agreements (PPAs) with independent power producers in the country as the present contracts are believed to be not in its favour.
Deputy Prime Minister Datuk Seri Najib Tun Razak had on Monday called for a review of privatisation contracts, saying some earlier deals were one-sided, favouring the concessionaires.
TNB chairman Datuk Amar Leo Moggie said the company was encouraged by the Government’s call but needed first to get a clear direction from the Government on the review.
However, he said, any review should benefit both parties, and the industry should remain healthy for future growth. But a review was possible given that the IPPs were now in a much better financial standing than previously.
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