KUALA LUMPUR: The authorities has determined to maintain the present electricity tariff charge for home customers in Peninsular Malaysia for the Regulatory Period 3 (RP3) from Feb 1 to Dec 31, 2024 beneath the Incentive-Based Regulation (IBR) mechanism.
According to the Energy Commission (EC), the tariff charge has been used since Jan 1, 2014 when the IBR mechanism was launched as a brand new coverage within the setting of electricity tariffs, and this choice additionally applies to industrial and industrial customers.
In an announcement at the moment, the EC mentioned for July 1, 2021 to Dec 31, 2021 interval, there was a rise in gas value and different era prices totalling RM1.67 billion, following the rise in coal costs which hit US$200 per tonne.
Hence, beneath the Imbalance Cost Pass-Through (ICPT) mechanism which is reviewed each six months, the federal government additionally selected the continued implementation from Feb 1 till June 30 this 12 months.
This means the rebate of two sen per kWh is maintained for all home customers with none surcharge, and no hike in electricity tariff for all home customers within the peninsula.
A surcharge of three.70 per kWh will likely be imposed on all non-domestic customers from the industrial and industrial, it mentioned.
“To maintain the rebate and soak up the price of the ICPT surcharge for all customers, the federal government has allotted RM715 million from Kumpulan Wang Industri Elektrik fund,” it added.
According to the EC, beneath the ICPT mechanism, the price of gas and electricity era will likely be reviewed each six months and handed on to the shoppers within the type of rebate or surcharge relying on financial savings or improve in prices concerned.
“The excessive improve out there value of coal led to the rise within the electricity era prices of 45 per cent and made a big impact on electricity tariff within the peninsula as coal constitutes 59 per cent of the era sources.
“The rise in coal costs is out of the federal government’s management as it’s based mostly on international market value,” it mentioned.
As a transfer to minimise the consequences of upper electricity invoice due to ICPT surcharge, electricity customers within the peninsula are inspired to subscribe to the Green Electricity Tariff (GET), that’s, electricity provide from renewable vitality (RE) in order to get pleasure from exemption from electricity ICPT surcharge for a one-year interval.
The EC mentioned GET prospects may also get Renewable Energy Certificate which is able to assist to fulfil the Environmental, Social and Governance (ESG) dedication and assist the nation’s RE agenda.
Besides that, it mentioned customers can profit from the Net Energy Metering (NEM) programme to cut back the price of electricity invoice.
The EC added that customers are additionally inspired to implement environment friendly electricity utilization, amongst them, by having vitality utilization audit, purchase electrical home equipment with five-star ranking which supplies extra cost-savings, swap off when not in use, and use electrical tools extra effectively. – Bernama
