TNB to continue with ICPT till year-end

PETALING JAYA: Tenaga Nasional Bhd(TNB) has been given the nod by the government via the Energy Commission Malaysia for the continued implementation of the imbalance cost pass-through (ICPT) at an unchanged base tariff rate.
TNB said in a filing with the stock exchange that the implementation of the ICPT is to continue for the period between July 1 and December 31, 2018 at an average base tariff rate of 39.45 sen/kWh.
It explained that due to the higher fuel and generation costs for the period of January 1 to June 30, 2018, the additional cost of RM698.19 million or 1.35 sen/kWh ICPT surcharge will be pass-through via the ICPT mechanism.
Domestic customers with monthly consumption below 300kWh will not be affected by this ICPT implementation, whereas for those with consumption level of above 300kWh, the ICPT surcharge will be funded by Kumpulan Wang Industri Elektrik (KWIE).
Non-domestic customers will be subjected to an ICPT surcharge of 1.35 sen/kWh.
At the noon break, TNB shares surged 98 sen or 7.2% to RM14.64 on 12.44 million shares done.