KUALA LUMPUR: The implementation of the Imbalance Cost Pass-Through (ICPT) mechanism will be neutral and not affect the company’s business operations and financial positions.
In a filing with Bursa Malaysia, Tenaga Nasional Bhd (TNB) said that the Ministry of Energy Transition and Water Transformation’s (PETRA) recent announcement follows the government’s decision to continue the ICPT mechanism from 1 July to 31 December 2024.
“The decision was made to address the additional generation costs due to higher fuel prices used for electricity supply from 1 January to 30 June 2024.
“To date, the government has successfully implemented 20 cycles of ICPT since the mechanism’s introduction in 2015,” TNB said.
On 29 June, PETRA announced that there would be no increase in electricity tariffs for all users in Peninsular Malaysia from 1 July to 31 December 2024.
Commercial and industrial users will experience a reduction in the ICPT rate of 1 sen per kilowatt-hour during this period, PETRA said.
— BERNAMA
