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A rebate of two sen per kilowatt hour for all Tenaga Nasional Bhd (TNB) account holders will come into effect from Jan 1, 2021.

Energy and Natural Resources Minister Datuk Dr Shamsul Anuar Nasarah said with the rebate, 7.5 million domestic consumers would see a reduction of between 3.6 per cent and 9.2 per cent in their electricity bills, while commercial users would experience between four per cent and 5.2 per cent reduction in their bills.

"The government has agreed to also maintain the TNB basic tariff average at 39.45sen per kilowatt hour for 2021," he told a press conference at the Peninsular Malaysia Forestry Department.

“This measure is taken following the government’s decision to extend TNB's Second Regulatory Period under the Incentive Based Regulation (IBR) mechanism until Dec 31, 2021,” he said at the announcement of the new electricity tariff rate for 2021.

The government had also agreed to pass the fuel cost savings to all TNB users following the drop in coal and gas prices in the second half of the year in line with the implementation of the Imbalance Cost Pass Through (ICPT) mechanism for the period from Jan 1 to June 30, 2021.

The minister added that the government hoped that the rebate would help reduce the cost of living for people and aid businesses that were greatly affected from the Covid-19 pandemic.

Info via The Star

By Thineshkan