Petronas Gas to maintain tariff rates until end of this year

PETALING JAYA: Petronas Gas Bhd said current tariff rates will be maintained until the end of the year as it irons out details of the implementation of Third Party Access system, which comes into effect tomorrow.
The group announced in a Bursa Malaysia filing that the Energy Commission has confirmed that the current tariff for the Peninsular Gas Utilisation system, Regasification Terminal Sungai Udang and Regasification Terminal Pengerang will be maintained until the end of this year.
It also said that the company is in full compliance with the technical and operational provisions of the Gas Supply (Amendment) Act 2016 (Act), and is also in continuous discussion with the commission in relation to the “framework and quantum of the tariff” in the years to follow.
The Act was gazetted in parliament in September 2016, as an attempt to liberalise the market and enhance competition in the natural gas supply industry which was monopolised by Petronas Gas and Gas Malaysia Bhd.
Under the TPA, Petronas Gas’s regasification and transmission infrastructure will be made available for third-party access.
The stock fell 0.53% to RM18.90 with some 778,300 shares changing hands.