Lower electricity tariff from March 1 in Peninsular Malaysia

Those is Peninsular Malaysia will enjoy a lower electricity tariff rate beginning next month, as announced by the Energy, Green Technology and Water Ministry today.

Tenaga Nasional Berhad (TNB) in their official Twitter account, the electric utility company said they will reduce the tariff by 2.25 sen per kilowatt hour (kWh).

Beginning March 1 until June 30, 2015, the new tariff will reduce from 38.53 sen to 36.28 sen.

TNB tariff will reduce by 2.25 cents/kwh ( 5.8% ) from 1st March to 30 June 2015. Average tariff reduce from 38.53 cents to 36.28 cents.
— Tenaga Nasional (@Tenaga_Nasional) February 11, 2015

Energy, Green Technology and Water Minister Datuk Seri Dr Maximus Ongkili confirmed the matter by stating that the Cabinet on Wednesday had decided to reduce the electricity tariff rate to 2.25 sen/kWh for consumers in Peninsular Malaysia beginning March 1 until June 30, 2015 based on the imbalance cost pass-through (ICPT) mechanism.

Using the ICPT mechanism, domestic consumers will in March enjoy a lower monthly electricity bill, saving anything between RM13.50 to RM45.

Last week, various authorities had urged TNB to reduce its tariff rate based on the current global crude oil price.

The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM), through its president, Datuk Lim Kok Cheong had said electricity is one of the most important components used by local businesses and foreign investors.