ST Receives Industry Feedback On Electricity Costs, Renewable Energy Planning

PUTRAJAYA, Feb 5 (Bernama) -- Calls for greater transparency in electricity supply costs and a comprehensive approach to national electricity supply planning, particularly regarding renewable energy, were among the feedback received by the Energy Commission (ST) during an engagement session on the new tariff schedule for the peninsula, held today.

In a statement, ST said that most industry players and business community representatives provided positive feedback on the proposed revision of the existing tariff schedule.

“However, several parties emphasised the need for transparency in future electricity supply costs and suggested that national electricity supply planning, especially in renewable energy, be implemented holistically.

“ST takes note of the views presented by industry players and business community representatives during this session, which will be considered in revising the new tariff schedule for the peninsula,” the statement read.

Among the industry players and business community present were the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM), the Federation of Malaysian Manufacturers (FMM), and the National Chamber of Commerce and Industry of Malaysia (NCCIM).

Yesterday, Prime Minister Datuk Seri Anwar Ibrahim said that the electricity tariff hike, which was set to be implemented from July 1, would not affect 85 per cent of households.

He explained that the increase would only apply to industries and the super-rich group, in accordance with the Imbalance Cost Pass-Through (ICPT) mechanism.

The basic electricity tariff in Malaysia is set by the ST under the Incentive-Based Regulation (IBR) framework and is reviewed every three years.

In addition to the base tariff, the ICPT mechanism is reviewed every six months to adjust electricity rates based on fluctuations in global fuel prices.

The next tariff review is scheduled for July 2025.

-- BERNAMA