PETALING JAYA: The applicable average natural gas and the natural gas selling price by tariff category for Gas Malaysia Energy & Services Sdn Bhd (GMES) to its customers will be announced at the beginning of each quarter next year.
Gas Malaysia Bhd said the government has issued a directive on the matter via a letter from the Energy Commission dated Dec 1, which it received yesterday.
GMES is a wholly-owned subsidiary of Gas Malaysia.
“The directive is for a period of one year beginning Jan 1,2021 to Dec 31,2021, with the average natural gas selling price to be determined every quarter.
“The natural gas selling price shall include the Transportation Tariff of RM1.19 per MMBtu, the legacy Gas Cost Pass Through of RM0.62 per MMBtu and Distribution Tariff of RM1.88 per MMBtu as previously approved by the Energy Commission, ” it said in a filing with Bursa Malaysia.
Gas Malaysia also clarified that the selling price determination is not applicable to sales of natural gas for natural gas vehicle and liquefied petroleum gas supplied in gas cylinders or in bulk.
The selling price determination will continue to contribute positively towards the financial position of the company for the financial year ending Dec 31,2021.
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