TNB share rises in early trade on new tariff announcement

KUALA LUMPUR: Tenaga Nasional Bhd's (TNB) shares surged in early trade on Friday after announcing a new tariff schedule for Peninsular Malaysia under Regulatory Period 4 (RP4).

The stock opened 24 sen higher at RM14.42, up from Thursday's close of RM14.18.

By 10.35 am, it climbed 62 sen, or 4.37 per cent, to RM14.80, with a total of 7.51 million shares changing hands.

On Thursday, TNB, via a filing to Bursa Malaysia, announced that the government had approved the implementation of RP4 under the Incentive-Based Regulation (IBR) framework for the period from January 2025 to December 2027.

The decision was communicated in a letter from the Energy Commission (EC) to TNB dated Dec 24, 2024.

The company stated that the new tariff schedule, with a base tariff of 45.62 sen per kilowatt-hour for Peninsular Malaysia under RP4, is proposed to take effect from July 1, 2025.

"The current electricity tariff schedule, which has been in place since 2014, will remain in effect, with no change to the electricity tariff rate or tariff structure, until 30 June 2025," TNB said.

-- BERNAMA