The increase in electricity tariffs is aimed at improving the country's education system and supporting the underprivileged, says Prime Minister Datuk Seri Anwar Ibrahim.
Speaking at the ACCCIM Chinese New Year Reception 2025 on Monday (Feb 3), Anwar assured that the tariff hike would be manageable and necessary, as price adjustments are inevitable over time.
Earlier, ACCCIM president Datuk Ng Yih Pyng voiced concerns over Tenaga Nasional Berhad’s (TNB) announcement that the base electricity tariff for Peninsular Malaysia would rise by 14.2% under Regulatory Period 4 (2025–2027), with implementation proposed for July 1, 2025.
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Speaking at the ACCCIM Chinese New Year Reception 2025 on Monday (Feb 3), Anwar assured that the tariff hike would be manageable and necessary, as price adjustments are inevitable over time.
Earlier, ACCCIM president Datuk Ng Yih Pyng voiced concerns over Tenaga Nasional Berhad’s (TNB) announcement that the base electricity tariff for Peninsular Malaysia would rise by 14.2% under Regulatory Period 4 (2025–2027), with implementation proposed for July 1, 2025.
Read more at https://tinyurl.com/ydaxzz37
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
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NewsTranscript
00:00Ladies and gentlemen, the process of economy and subsidy reform must be gradual to avoid
00:11disruption to market and businesses. Of particular concern is that TNB has announced that the
00:19base electricity tariff for Peninsular Malaysia will be raised by 14.2% under the Regulatory
00:27Period 4 between 2025 and 2027 and it is proposed to be implemented starting 1 July 2025.
00:38The rise in electricity costs will have domino effects on the whole supply chain, potentially
00:45passing through onto consumer inflation. Given the bunching of additional operating costs,
00:52we sincerely urge the Government to maintain electricity tariff at current level throughout
01:002025 and 2026. This is to ease the financial burden on business and mitigate inflationary
01:08pressures from the increased operating costs.
01:10Now, you raised two points, but I think there is some confusion. The first is on the issue
01:17of ICPT, the transfer of the electricity rate. It is not 14%. No. The six-month review
01:25is based on the current price, so I don't think it would be, to a large extent, cumbersome
01:36or a disadvantage to the community. But we are prepared to listen. The decision is to
01:41make something which needs to be done because prices have to rise according to the capacity
01:49in the price at that particular period. But certainly it is not to be. That is why I just
01:54checked with Zafrul in case I get the facts wrong. Certainly it is not the case. I think
01:58there was some confusion because of the way the announcements were made. But this was
02:02corrected. It is not the case. A slight increase is okay. Otherwise, how do I improve the education
02:14quality? How do I help the poor? How do I improve the roads? How do I then improve the
02:23medical services through some minor tax to the companies? Small, small. Don't worry.