Gas Malaysia's rates to remain

  • Nation
  • Monday, 17 Mar 2003


KUALA LUMPUR: Natural gas rates will not go up, said Energy Commission chairman Datuk Mohd Anas Mohd Nor. 

However, the gas rates will be restructured and the announcement is expected to be made tomorrow. 

“Gas Malaysia's rates for commercial, industrial and residential usage will not increase. The electricity rate will also not see an increase in the next three years,'' he said yesterday. 

Energy, Communications and Multimedia Minister Datuk Leo Moggie said last week that the electricity rates would not be reviewed for another three years. 

The rates are approved by the Government in accordance with Section 13 of the Gas Supply Act 1993. 

On the possibility of higher electricity rates following an increase in petrol prices in view of a looming war in Iraq, Moggie said that 70% of the country's electricity was sourced from natural gas and hydro electricity dams. 

“For this reason, power rates will not go up in the next three years,'' he added. 

Energy related analysts said a reduction in gas rates was likely following the Government's announcement last week that it aimed to woo investors to stimulate growth.  

Analysts said a rate reduction and Gas Malaysia's rate rebalancing proposal would see its margins reduced in the short term but increasing in the longer term.  

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