No Electricity Tariff Hike - TNB

KUALA LUMPUR, Dec 27 (Bernama) -- There will be no increase in electricity tariffs for 85 per cent of domestic users until June 30 next year, Tenaga Nasional Berhad (TNB) Chief Financial Officer Datuk Nazmi Othman said.

He said this decision is in line with the government’s resolution on Dec 20 to maintain electricity tariffs for the period from Jan 1 to June 30, 2025.

“During this period, domestic users will not be affected by any price hikes or impacts as the government will absorb these through mechanisms such as the Electricity Industry Fund (KWIE),” he said.

He said this at a media briefing on the implementation of the Fourth Regulatory Period (RP4) at the Leo Moggie Convention Centre, TNB Platinum in Bangsar here today.

Nazmi said before the period ends, the government will evaluate and review the electricity tariff structure, considering current coal, gas and fuel prices before announcing any further decisions.

“The next decision is expected to be announced before July, as the government will monitor the situation, including market prices for coal, gas and fuel, close to the expiration of the current electricity tariff schedule on June 30, 2025,” he added.

On Dec 20, the Energy Transition and Water Transformation Ministry (PETRA) announced in a statement that the government, on Dec 13, had decided there would be no increase in electricity tariffs, a decision is in line with the government’s commitment to ensuring the welfare of the people by continuing to protect domestic users through the implementation of targeted subsidies.

Meanwhile, Prime Minister Datuk Seri Anwar Ibrahim today reaffirmed that the government will not allow electricity tariff hikes that would burden the public.

Anwar, who is also Finance Minister, said any tariff increase should not impact the general population but instead target the ultra-wealthy or industries generating extraordinary profits.

Speaking to the media in Langkawi, Anwar said he had contacted Deputy Prime Minister Datuk Seri Fadillah Yusof, who is also the Minister of Energy Transition and Water Transformation, requesting that TNB provide clarification on the matter.

Commenting further, Nazmi expressed confidence that any future decisions announced by the government would prioritise and safeguard the well-being of the people, particularly protecting domestic users.

He said to date, TNB has recorded a total of nine million domestic account holders and one million commercial sector users.

-- BERNAMA