KUALA LUMPUR: Malaysia will continue to ensure that the country’s energy policy and regulatory framework evolves in line with changing global economic and industrial trends, said Deputy Prime Minister Datuk Seri Fadillah Yusof (pic).
Fadillah, who is also Energy Transition and Water Transformation Minister, said the effort is important to meet the increasing demand for green electricity supply, especially from multinational companies, data centres, the electrical and electronics (E&E) industry, the high-tech manufacturing sector and export-oriented businesses.
He also said the government realised that the energy transition agenda is no longer just about the environment but also involves aspects of economic competitiveness, high-quality investments, industrial development, energy security and national resilience.
“The national energy policy is guided by the principle of the ‘energy trilemma’ which includes energy security, affordability and environmental sustainability.
“The government needs to ensure that the implementation of the energy transition is carried out in a balanced manner without affecting the stability of the grid and without unnecessarily burdening consumers,” he said in a Facebook post yesterday.
In the Bernama report, Fadillah also said that a more innovative, flexible and investment-friendly market approach needs to be introduced to realise the aspirations of the National Energy Transition Roadmap (NETR), which is to achieve 70% renewable energy capacity by 2050, in addition to the policy of not developing new coal-fired power plants in the future.
In this context, he said the Corporate Renewable Energy Supply Scheme (CRESS), introduced on July 26, 2024, under the Green Madani initiative, is among the government’s strategic initiatives to expand access to green electricity through an open access approach by using the existing national grid infrastructure.
“Through this framework, business consumers can obtain renewable energy electricity directly from renewable energy developers without the need for dedicated private transmission infrastructure.”
