The statement comes after a recent speculation which suggests that a new rate would be implemented in February this year. The Energy Commission said the current rate has been used since the introduction of the Incentive-Based Regulation (IBR) mechanism on 1 January 2014 as a new policy in setting electricity tariffs.
— Suruhanjaya Tenaga (@ST_Malaysia) January 28, 2022 Moreover, it added that the government has also approved the continued implementation of the Imbalance Cost Pass-Through (ICPT) mechanism from 1 February to 30 June 2022. This will see domestic users in the peninsula to receive a rebate of 2 sen/kWj with no surcharge throughout the period, but a surcharge of 3.7 sen/kWj will be imposed on all non-domestic users such as commercial and industrial companies. The decision was made to address the additional generation costs due to the higher fuel prices used for the supply of electricity during the period of 1 July to 31 Dec 2021. It is said that the government had allocated a total of RM 715 million from the Electricity Industry Fund to cover the cost of the full rebate and surcharge for all domestic consumers. (Source: Energy Commission [1] [2] / TNB [Twitter])
