The government is expected to announce the electricity tariff adjustment for domestic consumers in the T20 income group soon, said Natural Resources, Environment, and Climate Change Minister Nik Nazmi Nik Ahmad.
He said the government must take into account various factors including the trend of coal and gas prices which have stabilised as compared to the past few years, before adjusting the electricity tariff.
“Previously, we have long kept the price (of coal and gas fuel) very low…that’s why the tariff increase is quite drastic. So that is a factor to consider.
He said the adjustment will be made based on the Imbalance Cost Pass-Through (ICPT) mechanism for a period of six months, starting from July to December this year.
Yesterday, Prime Minister Datuk Seri Anwar Ibrahim said that those in the T20 group would not benefit from electricity subsidies and haj financial assistance.
Meanwhile, Nik Nazmi said the government has saved more than RM4 billion from the RM15 billion allocated for flood mitigation projects announced by the previous government.
He said the savings were the result of a better procurement method implemented by the government through open tenders.
Earlier in his speech, Nik Nazmi said he believed that ASEAN countries have the potential to become the leading green hydrogen hub due to their abundance of renewable energy sources and strategic location.
He said that according to the International Renewable Energy Agency (IRENA), ASEAN has the potential to generate more than 800 gigawatts (GW) of solar energy, 300 GW of wind energy, and 200 GW of hydropower.
