Tenaga Nasional Bhd (TNB) shares fell 0.90% to RM13.20 as of 11.53 am, after the government expanded the electricity subsidy protection threshold from 600kWh to 800kWh per month until the end of 2026.
The stock opened at RM13.32 and moved between an intraday high of RM13.36 and a low of RM13.20. Some 1.39 million shares changed hands.
TNB had closed at RM13.32 in the previous trading session, putting the latest price 12 sen lower.
Under the expanded protection, domestic consumers using up to 800kWh a month will be exempt from the Automatic Fuel Adjustment (AFA), retail charges and the Sales and Service Tax (SST) from September through Dec 31.
Prime Minister Datuk Seri Anwar Ibrahim said the measure was introduced after hotter weather and haze conditions pushed some households above the previous 600kWh threshold, exposing them to AFA charges.
The move follows Tenaga’s clarification earlier this week that AFA is a two-way mechanism reflecting changes in fuel costs and foreign exchange rates, rather than an additional charge imposed by the utility.
Tenaga said consumers had received RM3.1 billion in AFA rebates compared with RM800 million in surcharges since the mechanism was introduced in July 2025.
For September, the AFA rate had been set at a surcharge of 3.67 sen per kWh. The government had also channelled RM435 million through the Electricity Industry Fund to reduce the impact of AFA surcharges on consumers.
