KUALA LUMPUR – In a bid to reduce financial burdens faced by the public, the Energy Transition and Water Transformation Ministry will not increase electricity tariffs in Peninsular Malaysia until the year’s end.
In a statement today, the ministry also said that commercial and industrial users would benefit from the reduction of the Imbalance Cost Pass-Through (ICPT) surcharge amounting to one sen a kWh from July until December 2024.
“The government hopes that the reduction in ICPT surcharge rates to this category will ensure the price of goods in the market remain stable and encourage further investments in Malaysia.
“Additionally, the government also agreed to reduce surcharges by one sen per kWh for street lamps (tariffs G and G1) under the supervision of local councils from July 1 until December 31,” the statement by the ministry reads.
In total, the ministry will spend RM2.19 billion to fund targeted electricity subsidies from July until December this year.
Further, despite the government’s decision not to increase electricity tariffs, Putrajaya urged the public to conserve energy and reminded them that RM400 rebates were available for the purchase of energy-efficient refrigerators and air conditioning appliances.
On January 1, the Energy Commission introduced tariff hikes for households with electricity bills ranging between RM230 and RM738.
Following the move, households using between 601kWh and 1,500kWh will now lose the RM12-RM32 rebate, leading to an increase in their bills.
However, the commission did not revise rebates for domestic users using 600kWh or less. – June 29, 2024