With the latest announcement by the Ministry of Natural Resources Environment and Climate Change on the continued subsidy for electricity in Peninsular Malaysia, Tenaga Nasional Berhad said the move will not impact its financials.
In an announcement, the Government’s decision to continue implementation of the Imbalance Cost Pass-Through mechanism for the period of 1 July until 31 December 2023. The decision it said was made to address the additional generation costs due to the higher fuel prices used for the supply of electricity during the period of 1 January to 30 June 2023.
TNB also added the impact of the ICPT implementation is neutral on TNB and will not have any effect on its business operations and financial position. To date, the Government has implemented 18 cycles of ICPT since the introduction of the mechanism in 2011.
