No increase in electricity tariffs

by | Jul 4, 2024 | NATIONAL, NEWS | 0 comments

There should be no increase in the prices of goods and services following a token 1sen/kWh of reduction in electrical tariffs for the commercial and industrial sectors, the benefits of which must be passed on to consumers.

The Consumer Association of Penang commented in a statement to the media that, in fact, prices of goods should be reduced by between 20 and 30 percent as the country was hit by increases following the diesel subsidy rationalization on June 10, 2024.

The association stated that although it was a marginal reduction of one sen, it should benefit all Malaysians and they hoped that enforcement agencies will monitor and conduct regular checks on the prices of goods.

While there is no increase in electricity tariffs from July 1 to Dec 31, 2024, commercial and industrial users will receive a reduction in the Imbalance Cost Pass Through Surcharge of (ICPT) of 1sen/kWh.

The Federation of Malaysian Consumers Associations or FOMCA stated that while the lowering of the ICPT would not make a big difference on the prices of goods and services, it showed the government was trying to control price spirals.

The government also agreed to lower the surcharge by 1sen/kWh for the street lighting category (tariff G and G1) under the supervision of local authorities to provide comprehensive lighting services in public areas.