Tenaga Nasional Berhad (TNB) anticipates that the continued implementation of the imbalance cost pass-through (ICPT) mechanism will have no significant effect on its business operations and financial position. In a filing with Bursa Malaysia, TNB confirmed that the ICPT implementation will not impact its operations or financial standing. The company remains committed to maintaining service levels and ensuring a reliable, continuous supply of electricity to customers.
The government announced on December 20 that electricity tariffs for all users in Peninsular Malaysia will remain unchanged under the ICPT mechanism from January 1 to June 30, 2025. ICPT allows TNB to adjust electricity tariffs based on fluctuations in fuel and other generation-related costs, with the government reviewing tariffs every six months. Additionally, the government has agreed to set the average basic electricity tariff rate for TNB under the incentive-based regulation (IBR) framework for the Regulatory Period (RP4), which spans from January 1 to December 31, 2027. The Energy Commission is finalising a new tariff schedule, which will reflect the actual cost of electricity supply while maintaining the balance of the energy trilemma—security, sustainability, and affordability. This schedule is set to be implemented on July 1, 2025, with a financial implication of RM3,570 million, which will be funded by the government