Electricity tariff schedule to be maintained until Dec 31, 2020

BANGI, 30 Nov -- Beberapa tiang pencawang Tenaga Nasional Berhad (TNB) ketiadaan penebat porselin serta kabel bervoltan tinggi untuk diselenggara semasa tinjauan di sekitar kawasan Bangi hari ini.--fotoBERNAMA (2017) HAK CIPTA TERPELIHARA

PETALING JAYA: There will be no revision in electricity tariff schedule for Peninsular Malaysia until Dec 31, 2020.

Tenaga Nasional Bhd (TNB) said in a media release that the Government has approved the current electricity tariff schedule for the states in the peninsula from Jan 1 next year to Dec 31, 2020. TNB chairman Tan Sri Leo Moggie had earlier given a hint of the move during a media briefing following the company’s AGM last week.

The national utility company said the Government has also agreed to provide RM929.37mil for the subsidy and rebate of 1.80 sen/kWh for the period of Jan 1 to June 30, 2018.

“This includes 0.28 sen/kWh of surcharge from additional cost of generation and 1.52 sen/kWh to continue the current imbalance cost past through (ICPT) rebate for customers,” it said.

However, TNB said the 1.52 sen/kWh ICPT rebate will not be made available to domestic consumers with a monthly consumption of 300 kWh and below. For other users, this means they will pay the same rate for their electricity usage for the period of Jan 1 to June 30, 2018.

“The Government has approved RM6.33bil of total rebate to TNB’s customers in Peninsular Malaysia from March 2015 until June 2018,” TNB said.

In the same announcement, the company assured customers that they would continue to benefit from reliable electricity supply as more advanced technological infrastructure and other support programmes are developed.

These include the development of advanced metering infrastructure, fibre optic networks, efficient LED street lighting, solar projects in public universities, and education programmes as part of its corporate social responsibility initiatives.

TNB said last week that the company would continue to invest in the renewable energy (RE) capacity locally and abroad while also continuing to bid for tenders in 2018 with a focus on solar and wind projects.

Its president and chief executive officer Datuk Seri Azman Mohd said following the company’s AGM that the long-term strategy included overseas expansion as electricity sales moderate in the domestic market.

He pointed out that structural changes in the Malaysian economy mean that the company needed to make investments into RE and overseas markets for growth. According to Azman, TNB’s future efforts would be guided by its Strategic Plan (2017-2025), anchored on key pillars designed to achieve continued and sustainable growth.

Shares in TNB closed unchanged yesterday at RM14.98 with 8.09 million shares changing hands.

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