Power utility TNB expects resilient earnings


Kenanga Research said it continues to like TNB for its resilient earnings profile, safeguarded by the ICPT mechanism.

KUALA LUMPUR: Tenaga Nasional Bhd’s (TNB) earnings are expected to be resilient going forward, as the ballooning under-recovery of fuel costs will eventually be recovered under the incentive-based regulatory framework, albeit with a six-month lag.

According to Kenanga Research, TNB has received RM4bil in imbalance cost pass-through (ICPT) recovery claims for January 2023, with a balance of RM6.4bil to be paid in five equal instalments until June 2023.

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Annual Plan

RM 12.33/month

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TNB , ICPT , earnings , underrecoveries , ESG

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