News

Drop in coal, gas prices won't likely affect electricity tariff: TNB

Tan Sri Leo Moggie

KUALA LUMPUR, April 4 (Bernama) -- The recent drop in global coal and gas prices would not likely affect the electricity tariff in Malaysia as they are still higher than the base prices set during the three-year revision in 2018, says Tenaga Nasional Bhd (TNB).

Chairman Tan Sri Leo Moggie said the current coal and gas prices of about US$90 per tonne and RM28 per MMBtu are higher than the US$75 per tonne and RM27.20 per MMBtu during the revision.

“The coal price appears to be declining, but from the international commodity perspective, the price is higher than the base price set for power generation.

“In TNB’s view, as long as the policy on the review of fuel cost and Imbalance Cost Pass-Through (ICPT) is implemented, we follow the existing system and the government will review the cost of electricity generation every six months,” he told reporters on the sidelines of the Perdana Leadership Foundation CEO Forum 2019 here today.

Leo Moggie said it is up to the government to undertake any revision of the electricity tariff as it is not within TNB’s power to interfere with the government's decision.

Meanwhile, Khazanah Nasional Bhd said it has yet to receive the strategic plan from Malaysia Airlines Bhd on its intention to compete in the aviation industry and deliver better returns. 

“No, not yet. That one essentially we are still waiting for. (So) wait and see once it is unfolded.

“Again, like I said the last time, we are hoping to get it (tentatively) to the government before year-end,” managing director Datuk Shahril Ridza Ridzuan told reporters.

Themed 'Accelerating the Fourth Industrial Revolution in Malaysia', the one-day forum brings together the best minds of business and industry to provide insights and ideas on Industry 4.0.

-- BERNAMA

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