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BUSINESS

TNB operates under new Regulatory Period 3, supports govt efforts

29/04/2022 02:34 PM

KUALA LUMPUR, April 29 (Bernama) -- Tenaga Nasional Bhd (TNB) has started operating under the new Regulatory Period 3 (RP3) under the Incentive-based Regulation (IBR) framework which runs from February this year to December 2024.

The RP3 enables TNB to enhance its role in the National Recovery Plan including aspects of tariff reviews and capital expenditure.

TNB chairman Datuk Seri Hasan Arifin said under the RP3, the government has decided to prioritise the well-being of the people and has maintained the current electricity tariff schedule.

“This decision is one that is cognisant of the burdens of the people but also recognises the commitments that power producers and distributors have to make to modernise and develop our power ecosystem," he said In TNB's Integrated Annual Report 2021.

Hasan also thanked the government for its continued support of the IBR framework since 2014 as it remains the best mechanism that balances the needs of both the people and the power sector.

On investment matters, Hasan said TNB's continuing investments will ensure that its existing infrastructure operate efficiently while moving up the sustainability pathway to transform the national utility giant into a greener company.

“The coming year will see TNB focusing on supporting the government in rebuilding our nation’s economy. Bank Negara Malaysia expects the Malaysian economy to grow between 5.5 per cent and 6.5 per cent in 2022, further building on the 3.1 per cent  growth we saw in 2021.

“Greater economic activity translates into higher demand for electricity, and we must, as the national power producer, ensure that we deliver reliable and affordable power to all Malaysian users,” he said. 

-- BERNAMA


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