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Industry player says it’s time to liberalise energy market

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PETALING JAYA: The energy market in Malaysia should be liberalised to encourage more investment in renewable energy and promote greater competition, says an industry player.

Malaysian Photovoltaic Industry Association president Davis Chong said opening the energy market could provide several benefits, including increased efficiency, lower costs and more consumer options.

He spoke about letting third-party access as well, saying that this could be an effective way to encourage renewable energy development in Malaysia. Chong said the cost of photovoltaic panels, government policies and public awareness were among the factors that could determine Malaysia’s transition to renewable energy.

According to Tenaga Nasional Bhd , the government implemented the Net Energy Metering scheme in November 2016 to encourage the use of renewable energy, which is primarily solar energy.TNB indicated that the quota take-up rate among business customers had increased dramatically, with the total number of business customers commissioned rising from 81 or 9.5MWac in 2018 to 1,422 customers or 220.79MWac last year.

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