The national power producer has started operating under the new Regulatory Period 3 (RP3) under the Incentive- Based Regulation (IBR) which runs from February 2022 to December 2024.
The RP3 enables TNB to enhance its role in the National Recovery Plan including aspects of tariff reviews and capital expenditure.
“Under the RP3, the government has decided to prioritize the well-being of the people and has maintained the current electricity tariff schedule,” TNB chairman Datuk Seri Hasan Arifin was quoted as saying.
“This decision is one that is cognizant of the burdens of the people but also recognizes the commitments that power producers and distributors have to make to modernize and develop our power ecosystem,” he said in TNB Integrated Annual Report 2021.
He also thanked the government for its continued support of the IBR framework since 2014 as it remains the vast mechanism that balances the needs of both the people and the power sector.
On investment matters, he said TNB’s continuing investment will ensure that is existing infrastructure operate efficiently while moving up the sustainable 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% and 6.5% in 2022, further building on the three point 1% growth we saw in 2021. Greater economic activity translates into higher demand for electricity and we must ask the national power producer ensure that we deliver reliable and affordable power to all Malaysians users,” he said.
