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BUSINESS

Gas Malaysia's unit to implement new base average tariff

31/03/2021 08:12 PM

KUALA LUMPUR, March 31 -- The government has directed Gas Malaysia Bhd to implement a new base average tariff for its wholly-owned subsidiary, Gas Malaysia Distribution Sdn Bhd (GMD), to utilise the Natural Gas Distribution System (NGDS).

It said the directive was issued via a letter from the Energy Commission to execute the approval on the adjustment at the rate of RM0.17/MMBtu under the Incentive-Based Regulation framework.

In a filing with Bursa Malaysia today, Gas Malaysia said with the adjustment to the base average tariff, the allowed average tariff for GMD is RM2.05/MMBtu from April 1, 2021 to Dec 31, 2021.

Meanwhile, the approved surcharge to GMD’s tariff remained at RM0.62/MMBtu for the same period.

"The new tariff is not applicable to the sale of liquefied petroleum gas supplied in gas cylinders or in bulk supply," it said.

Gas Malaysia added that the tariff revision will continue to contribute positively towards the financial position of the company for the financial year ending Dec 31, 2021.

-- BERNAMA

 

 


 

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