KUALA LUMPUR (July 1): Tenaga Nasional Bhd (TNB) (KL:TENAGA) said the decision by the Ministry of Energy Transition and Water Transformation (Petra) to maintain electricity tariffs until Dec 31 this year is neutral on the utility company and will not have any effect on its business operations.

Petra on June 29 had determined the continued implementation of the imbalance cost pass-through (ICPT) mechanism for the period of July 1 to Dec 31, 2024.

In a statement to the bourse on Monday, TNB said 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 Jan 1, to June 30, 2024.

“TNB also wishes to inform that the impact of the ICPT implementation is neutral on TNB and will not have any effect on its business operations and financial position.

“To date, the government has successfully implemented 20 cycles of ICPT since the introduction of the mechanism in 2015,” it said. 

https://www.theedgemarkets.com/node/717349