Commercial consumers’ electricity bills will be increased by an average of 16.85%, ranging from 1.2% to about 18%, with effect from Jan 1.
Tenaga Nasional said in a statement to Bursa Malaysia on Monday that industrial consumers would experience an average increase of 16.85%, ranging from 0.9% to about 17%.
As for special industrial tariff (SIT) consumers, their bills would increase by about 19%.
“This is in line with the government’s effort to gradually reduce subsidies to industries. Even with this increase, SIT consumers will continue to enjoy discounted tariff rates, as compared to the rates for normal Industrial consumers,” said Tenaga.
The power giant said the average electricity tariff in Peninsular Malaysia would be increased by 4.99 sen per kWh or 14.89% from the current average of 33.54 sen/kWh to 38.53 sen/kWh.
In a statement to Bursa Malaysia, it said this would be based on the four components
1) The adjustment of domestic gas price from RM13.70/MMBtu to RM15.20/ MMBtu will affect the electricity tariff by 1.52% or 0.51 sen/kWh;
2) The price of imported Liquefied Natural Gas (LNG) fixed at RM41.68/ MMBtu will have an impact on the electricity tariff by 10.17% or 3.41 sen/kWh;
3) The adjustment of base price for coal from US$85 per tonne to US$87.5 a tonne calorific value 5500, kcal/kg will also have an impact on the electricity tariff by 0.51% or 0.17 sen/kWh; and
The review of Tenaga Nasional’s base tariff which is being raised by 2.69% or 0.90 sen/kWh from the current average tariff. This base tariff will be regulated through a mechanism called the Incentive Based Regulation (IBR) to be administered by the Energy Commission.
