[UPDATED] TNB’s 2 sen/kWh rebate to remain from July to year-end

KUALA LUMPUR – About 9.44 million Tenaga Nasional Bhd users will continue to enjoy the rebate of 2 sen per kilowatt-hour from July 1 to December 31, costing the government RM493 million, said Energy and Natural Resources Minister Datuk Seri Shamsul Anuar Nasarah.

He said with the six-month fuel cost adjustment, users should only get a rebate of 1.13 sen/kWh compared to 2 sen/kWh between January and June, while the current tariff is maintained.

The government will be dipping into the Electric Industry Fund to prop up the existing rebate rate, which is expected to cost RM493 million.

He also teased that domestic and non-domestic users in Peninsular Malaysia and Sabah can expect targeted discounts between July and September, and details will be unveiled by Prime Minister Tan Sri Muhyiddin Yassin soon.

He said those in the hardcore poor category, with a monthly income of RM1,169 and below and registered in the e-Kasih system, will be eligible for a discount of RM40 on their electricity bills.

“Some 282,182 households are eligible for the discount but only about 40% have updated their electricity bill information. I urge those who are eligible to update their information with the utility provider to enjoy the discount.

“Meanwhile, between July and December, TNB account users are getting an average of 5% discount.

“As for non-domestic users in Kulim Hi-Tech Park, Kedah, who are getting their electricity supply from NUR Power, they will be receiving a rebate of 2 sen/kWh from July 1 to December 31.”

TNB said in a filing with Bursa Malaysia that during the period of January to June this year, there was a slight increase in average coal price in the global market at US$470.06 (RM1,951.69) per tonne as compared to the benchmark coal price set in the base tariff at US$67.45 per tonne.

It said the average reference market price (RMP) for gas in the first half of the year stood at RM17.16 per metric million British thermal units (mmBTU), which is lower than the benchmark gas price for the year set in the base tariff at RM27.20/mmBTU.

It added that starting from January 2020, the gas price is set based on RMP, replacing the former two-tier gas pricing mechanism which comprises regulated gas price and liquefied natural gas price. – The Vibes, June 28, 2021