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No power tariff hike for 99 per cent of Peninsula domestic users from July to Dec

23 Jun 2023 06:54pm
Natural Resources, Environment, and Climate Change Minister Nik Nazmi Nik Ahmad
Natural Resources, Environment, and Climate Change Minister Nik Nazmi Nik Ahmad
PUTRAJAYA - Domestic users in Peninsular Malaysia with a monthly electricity consumption of 1,500 kilowatt-hour (kWh) and below will not experience an increase in tariffs following the electricity tariff adjustment from July 1 to Dec 31 under the implementation of the Imbalance Cost Pass-Through (ICPT) mechanism.

Natural Resources, Environment, and Climate Change Minister Nik Nazmi Nik Ahmad said this covers 99 per cent of domestic users in Peninsular Malaysia.

"This means the electricity rebate of two cents/kWJ given currently stays,” he told a press conference here today.

ICPT refers to a mechanism under the Incentive-Based Regulation (IBR) that allows fuel costs to be adjusted every six months based on global fuel price fluctuations.

Nik Nazmi said the government agreed to cover the electricity subsidy cost under the ICPT for the period July 1 to Dec 31, 2023, amounting to RM5.2 billion. - BERNAMA
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