PUTRAJAYA JAN.28 –The government has agreed to maintain the current electricity tariff rates for domestic consumers in Peninsular Malaysia for the Regulatory Period 3 (RP3) effective 1st February 2022-31st December 2024 under the Incentive Based Regulation (IBR) mechanism.
Energy Commission said, the government had made the decision on 26th Jan.2022. The tariff rate was used since 1st January 2014 when IBR mechanism was introduced as a new policy in setting the electricity tariff. This decision was also applied to commercial and industrial consumers.
“For the period 1st July 2021 until 31st December 2021, there was a rise in the cost of fuel and other generating costs worth RM1.67 billion following the rise in the price of coal that had reached USD200 per tonne,” said Energy Commission in a statement here today.
The statement added, under this Imbalance Cost-Pass-Through (ICPT) that is being checked in every six months, the Government has decided for the period 1st February 2022 the implementation of the electricity tariff adjustment are as below:-
- Rebate of 2 sen/kWj is maintained for all domestic consumers with no surcharge. For that there will be no increase in electricity tariff for domestic consumers in the Peninsular and ii) Surcharge 3.70 sen/kWj to all non domestic such as commercial and industrial consumers.
The statement added to maintain the rebates and the full ICPT surcharge dependents’ cost, the Government has provided the Kumpulan Wang Industri Elektrik (KWIE) fund worth RM715 million to bear the costs.
“As a precaution to minimise the effect in the increase in the electricity bill due to ICPT surcharge, electricity consumers in the Peninsular are encouraged to subscribe Green Electricity Tariff (GET) that is electricity supply from “Tenaga Boleh Baharu” (TBB) in order to get the exemption from the ICPT electricity surcharge for a period of one year.
“GET customers will also be given the Renewable Energy Certificate (REC) that could help to fulfil the Environmental, Social &Governance (EDG) and supports the national TBB.
“Besides that consumers could benefit from the Net Energy Metering Programme that will help reduce the electricity bill,” said the Energy Commission.- Malaysia World News