Energy minister mum on possible electricity tariff hike

Posted on May 23, 2011. Filed under: Energy |

-The Star-

SELANGOR: Energy, Green Technology and Water minister Datuk Seri Peter Chin declines to confirm market speculation that the Government will allow Tenaga Nasional Bhd to raise electricity tariff.

When asked by the media about the potential tariff hike during a visit to a water treatment plant site at Sungai Labu today, Chin said: “When? I don’t confirm anything.”

He called on the media to “wait” and said the issue was up to the Cabinet to decide.

StarBiz reported last week quoting sources that Tenaga could be allowed to impose a “single-digit” percentage tariff hike this week.

“It will not be a double-digit hike but close to that,” sources said, adding that some 56% of the population would not be affected by the hike.

OSK Research expected a 5% to 10% tariff hike for Tenaga, as the hike was long overdue given rising cost of coal and other raw materials as well as the tariff having remained stagnant since March 2009.

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