KUALA LUMPUR, Feb 11 (Bernama) — Tenaga Nasional Bhd’s (TNB) move to reduce electricity tariffs is consistent with the government’s aspirations and in accordance with international rates, said Minister of International Trade and Industry Datuk Seri Mustapa Mohamed.
Mustapa applauded the reduction in electricity tariffs, saying it would reduce the cost of doing business.
Earlier today, TNB announced a reduction in electricity tariffs by 2.25 sen/kWh or 5.8 per cent, from March 1 to June 30, 2015.
According to TNB, its average tariff will be reduced from 38.53 sen/kWh to 36.28 sen/kWh.
TNB also announced that for Sabah and Labuan, tariffs will decrease by 1.20 sen/kWh (down 3.5 per cent) and the average tariff will decrease from 34.52 sen/kWh to 33.32 sen/kWh.
“Even though the reduction is not substantial, it will certainly be welcomed by the business community,” he told reporters on the sidelines of the opening of the new office of the European Union-Malaysia Chamber of Commerce and Industry (EUMCCI) here today.
Mustapa said for bussinesses affected by the easier ringgit, the power tariff reduction would somewhat neutralise the losses.
He also said the tariff cut coincides with the government’s managed float mechanism under which the retail prices for petrol and diesel are based on monthly average world crude oil price, and augurs well for the business community, which comprises not only manufacturers but also service-oriented businesses and small and medium enterprises (SMEs).
Mustapa said there are more than 2,000 EU-based companies in the country, which is the EU’s second largest trading partner in ASEAN.
Mustapa applauded the reduction in electricity tariffs, saying it would reduce the cost of doing business.
Earlier today, TNB announced a reduction in electricity tariffs by 2.25 sen/kWh or 5.8 per cent, from March 1 to June 30, 2015.
According to TNB, its average tariff will be reduced from 38.53 sen/kWh to 36.28 sen/kWh.
TNB also announced that for Sabah and Labuan, tariffs will decrease by 1.20 sen/kWh (down 3.5 per cent) and the average tariff will decrease from 34.52 sen/kWh to 33.32 sen/kWh.
“Even though the reduction is not substantial, it will certainly be welcomed by the business community,” he told reporters on the sidelines of the opening of the new office of the European Union-Malaysia Chamber of Commerce and Industry (EUMCCI) here today.
Mustapa said for bussinesses affected by the easier ringgit, the power tariff reduction would somewhat neutralise the losses.
He also said the tariff cut coincides with the government’s managed float mechanism under which the retail prices for petrol and diesel are based on monthly average world crude oil price, and augurs well for the business community, which comprises not only manufacturers but also service-oriented businesses and small and medium enterprises (SMEs).
Mustapa said there are more than 2,000 EU-based companies in the country, which is the EU’s second largest trading partner in ASEAN.
No announcement for today.