On behalf of the Malaysian Ministry of Natural Resources, Environment and Climate Change (KETSA), EUROCHAM Malaysia announced the imbalance cost pass-through (ICPT) mechanism will continue to be implemented for the period of July 1 until Dec 31, 2022.
This was announced through a media statement regarding the Electricity Tariff Adjustment for Peninsular Malaysia.
The statement further noted lower voltage (LV) non-domestic users including micro businesses, small and medium enterprises including restaurants, groceries, bakeries, small workshops and such will not be facing any electricity tariff increase as well.
To maintain food and agricultural product prices at its current level, farmers and animal breeders, categorised as specific agriculture (tariff H), will also not incur any electricity tariff increase.
The government will cover subsidies worth RM5.8bil despite facing a sharp increase in fuel and other generation costs.
The decision addresses the significant increase in generation costs due to the higher fuel prices used for the supply of electricity.
Source and full statement: https://www.facebook.com/eurochammy/