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TRP Staff Reporter
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KUALA LUMPUR, Dec. 2 – It is confirmed that electricity tariff in West Malaysia will be raised by 15%, or 4.99 sen to 38.53 sen per kWh.
The increase will take effect on Jan. 1, 2014.
This was announced by Energy, Green Technology and Water Minister Maximus Ongkili in a press conference in Parliament today. Previously, the tariff was 33.54 sen per kWh.
Sabah and Labuan will see an increase in electricity tariff of 5 sen.
Earlier, Tenaga Nasional Bhd (TNB) had asked for a suspension on the trading of its shares this afternoon.
According to Bursa Malaysia, TNB in its filing said the two-and-a-half-hour suspension from 2.30pm to 5pm today is pending the company’s “material announcement” this afternoon, possibly referring to today’s press conference.
Ongkili had hinted a 10% to 20% electricity tariff hike was possible for next year.
The impact of the electricity tariff review for the key customer categories are as follows:
i. Average domestic tariff is revised from the current rate of 28.63 sen/kWh to 31.66 sen/kWh or an increase of 3.03 sen/kWh (10.6% increase)
ii. Average commercial tariff is revised from 41.01 sen/kWh to 47.92 sen/kWh or an increase of 6.91 sen/kWh (16.85% increase)
iii. Average industrial tariff is revised from 30.94 sen/kWh to 36.15 sen/kWh or an increase of 5.21 sen/kWh (16.85%)