KUALA LUMPUR, June 30 – There will be no increase in electricity tariffs for all users in the peninsula from this Monday (July 1) until Dec 31, according to the Ministry of Energy Transition and Water Transformation (PETRA).
PETRA, in a statement issued on Saturday, stated that the matter was agreed by the government on Friday.
It’s a decision that reflects the government’s commitment to ensuring the well-being of the people continues to be guaranteed by ensuring domestic consumers continue to be protected through the targeted implementation of electricity subsidies, said the ministry.
It said the government has also agreed to lower the surcharge by 1 sen/kWh for street lighting category (tariff G and G1) under the supervision of the local authorities (PBT) for the same period so that they (PBT) can provide comprehensive lighting services in public areas.
As for commercial and industrial users, it said, they will experience a reduction in the Imbalance Cost Pass-Through (ICPT) rate of 1 sen/kWh from July to December 2024.
“The government hopes that the reduction in the ICPT surcharge rate for this category can continue to maintain the stability of the price of goods in the market while supporting the government’s efforts to encourage investment in Malaysia, thereby increasing employment opportunities for the people and stimulate the national economy,” read the statement.
According to PETRA, the targeted electricity subsidy to be borne by the government from July to December this year amounted to RM2.192 billion.
The ministry believes implementing the targeted electricity subsidy is the best approach to reduce the government’s subsidy commitment so that the allocation can be channelled to other forms of assistance to the people.
In addition, it also allows the government to continue to improve public infrastructure, and healthcare and support the country’s education sector, it said.
