New green electricity tariff premium rate of 21.8 sen/kWh from Aug 1 - Nazmi

PUTRAJAYA: The new premium rate for the Green Electricity Tariff (GET) programme is set at 21.8 sen per kilowatt hour (kWh) starting Aug 1, said Natural Resources, Environment and Climate Change Minister Nik Nazmi Nik Ahmad.

The current GET premium rate is 3.7 sen/kWh for the period of July 1 to 31.

Nik Nazmi said the decision on the new tariff was based on the benchmark for setting the retail price of green electricity supply.

"Taking into account that this move will involve an increase to the current GET premium rate, the existing customers are given until July 31 to reconfirm their subscriptions," he said, adding that Tenaga Nasional Bhd (TNB) will make adjustments to the electricity bill for the users involved.

GET initiative was introduced on Jan 1, 2022, to enable users with environmental, social and governance (ESG) commitments to reduce greenhouse gas emissions through subscribing to electricity from renewable energy (RE) sources.

Nik Nazmi said GET customers are not charged the Imbalance Cost Pass-Through (ICPT) as it does not involve the use of fossil fuels.

He also said that the previous 30 per cent GET subscription quota limit has been abolished and customers can now subscribe up to and not exceed 100 per cent of their energy needs.

He added that for this year, the GET subscription offer that opened in February with a total quota of 6,600 Giga Watts per hour (GWh) at a premium tariff rate of 3.7sen/kWh has been fully subscribed by 2,361 domestic, commercial and industrial users.

"The revenue collected from the implementation of GET will be used for the purpose of developing and increasing the new capacity of RE sources in the national electricity supply system," he said.

-- BERNAMA