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BUSINESS

TNB: Current ICPT mechanism stays until Dec 31, 2022

24/06/2022 09:04 PM

KUALA LUMPUR, June 24 (Bernama) -- The Imbalance Cost Pass-Through (ICPT) mechanism will continue to be implemented for the period from July 1 until Dec 31, 2022, said Tenaga Nasional Bhd (TNB).

This was in line with Prime Minister Datuk Seri Ismail Sabri Yaakob’s announcement earlier today that the electricity and water tariffs in the peninsula would remain unchanged and the market prices for chicken would not be floated in an effort to ensure that the people would not be burdened.

“The decision will address the significant increase in generation costs due to the higher fuel prices used for the supply of electricity during the Jan 1 to June 30, 2022 period,” TNB said in a filing to Bursa Malaysia today.

The utility giant also informed that the impact of the ICPT implementation is neutral on TNB and would not have any effect on its business operations and financial position.

The electricity tariff surcharge for domestic users currently stands at 3.7 sen per kilowatt-hour (kWh) with a rebate of two sen per kWh without any surcharge, while non-domestic consumers from the commercial and industrial sectors will be imposed a surcharge of 3.7 sen per kWh.

-- BERNAMA

 

 


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