PETALING JAYA: Analysts view Tenaga Nasional Bhd
’s (TNB) commitment to absorb RM120mil to RM150mil fuel surcharge costs with caution, following the government’s recent expanded electricity bill protection that raises the automatic fuel adjustment (AFA) and retail charge exemption threshold for domestic users from 600kWh to 800kWh.
In a note to clients, CIMB Research said it cut TNB’s financial year 2026 (FY26) core net profit (CNP) estimate by 2% to account for RM150mil in additional costs from absorbing AFA and retail charges for an expanded residential user group in September to December this year.
