No change in electricity tariff until December 2020

PETALING JAYA: Tenaga Nasional Bhd (TNB) today announced that the government has approved for the electricity tariff in the current tariff schedule for peninsular Malaysia to be maintained for the period of Jan 1, 2018 until Dec 31, 2020.
The same electricity tariff schedule has been used since Jan 1, 2014.
In a filing with Bursa Malaysia, TNB said the government agreed to fund RM929.37 million for the subsidy and rebate of 1.80 sen/kWh for the period of Jan 1, 2018 until June 30, 2018.
It said this includes 0.28 sen/kWh of surcharge from additional cost of generation and 1.52 sen/kWh to continue the current imbalance cost past through (ICPT) rebate for the electricity customers.
In total, TNB said the government has approved RM6.33 billion of total rebate to the electricity customers in peninsular Malaysia over the period of March 2015 until June 2018.
"With this decision, the customers in peninsular Malaysia will not experience any change in their electricity bill for the period of Jan 1, until June 30, 2018 if the electricity consumption is maintained at the same level," it added.
Furthermore, TNB said although the electricity tariff for the period of January 2018 to December 2020 is maintained at the current level, customers will continue to benefit from reliable electricity supply.
TNB said it will also continue to ensure security and reliability of electricity supply in peninsular Malaysia with further development of advanced technological infrastructures and various other support programs.
However, TNB said the 1.52 sen/kWh ICPT rebate will be applicable to all consumers except domestic consumers with monthly consumption of 300 kWh and below.
TNB noted that the impact of ICPT implementation is neutral on the group and will not have any effect to its business operations and financial position.
As at 12.30pm, TNB's shares was flat at RM14.98 with some 230,500 shares changing hands.