The base electricity tariff in Peninsular Malaysia will be raised from the current 39.95 sen/kWh to 45.62 sen/kWh (+14.2%) come July 2025, along with a new tariff schedule, The Star reports.
This change is part of the three-year Regulatory Period 4 (RP4) that will be effective from January 2025 to December 2027, replacing RP3 2022-2024. However, from January to end-June 2025, there will be no change in the electricity tariff rate and tariff structure, giving the public half a year to adjust. The current tariff schedule has been in place since 2014.
“Any differences from January to June 2025 (between the new and old base tariff rates) will be funded through Kumpulan Wang Industri Elektrik,” Tenaga Nasional Berhad (TNB) told the bourse, adding that the RP4 implementation shows the government’s commitment to the Incentive Based Regulation (IBR) framework.
“Through RP4 implementation under IBR, TNB commits to ensure a reliable and continuous supply of electricity to our customers, enhance customer service level and facilitate the nation’s energy transition agenda,” it said.
The allowed capital expenditure (capex) under RP4 is RM42.821 billion (RM26.554 billion base capex + RM16.267 billion contingent capex), while the allowed operating expenditure (opex) is RM20.782 billion.
“The regulatory rate of return has been maintained at 7.3% as per RP3. This will enable TNB to make essential investments in the industry, ensuring a continuous and reliable electricity supply to meet the growing demand of customers,” the utility giant said.
Generation costs remain the largest component of the electricity tariff, with gas and coal still the primary fuel sources during this period. Any additional generation costs resulting from higher fuel prices for electricity supply will be passed through via the Imbalance Cost Pass-Through mechanism.
“TNB remains neutral in this regard and there will be no impact to the company’s business operations or financial position,” it said.
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