Electricity Tariff Cut Helps Ease Inflation Pressure

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GEORGETOWN, Feb 12 –  The government has decided to slash the electricity tariff from March 1 to June 30, according to Energy, Green Technology and Water Minister Datuk Seri Dr Maximus Ongkili. He said with the new tariff, users can save between RM13 to RM45 each month depending on usage. The minister added that for the peninsular, the new tariff will see a reduction of 2.25 sen per kWh. 

However, this new rate should only affect those using more than 300 kWh a month. He explained that the reduction was made following a review of the Imbalance Cost Pass Through (ICPT) system. In Peninsula Malaysia, TNB charges a tariff based on five tiers. 

The tariff review was conducted in January last year, where the less than 200 kWh and less than 300 kWh tier was unaffected, and remans priced at 21.8 sen per kWh and 33.4 sen per kWh respectively. The next three tiers – less than 600 kWh, less than 900 kWh and more than 900 kWh – were increased by 24 percent, 20.5 percent and 26.2 percent respectively.

This would mean that the tariff for these three tiers for the month of March to June would be reduces by 4.3 percent, 4.1 percent and 3.9 percent respectively. Teenage Nasional Bhd’s (TNB) net profit jumped 34.37% to RM2.35bil on the back of 15.2% increase in revenue to RM11.03bil for the first quarter ended Nov 30, 2014.

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