Despite the turbulent changes in the world’s fuel prices, the Federal Government has no plans to increase electricity tariffs for Malaysian consumers.
Energy, Green Technology and Water Minister Maximus Ongkili told the New Straits Times‘ Sarah Rahim that the Cabinet has placed a moratorium on the tariff rates, and will not be increasing it this year.
“It will not be increased even in the remaining months of the year,” he said outside of Parliament today.
In the case of global fuel prices rising again, after the recent precipitous drop, Maximus assured that Putrajaya would step in and subsidise the difference in electricity costs.
“Since the government say no increase, we will look into giving more subsidy,” he said.
He clarified further that fossil fuel only translates to about one percent of the total cost of electricity, as no crude oil or diesel are used.
He also pointed to possible benefits to the people should the price of fuel drop even further:
“If the fuel price is of downward trend, we will check on if there is any amount to be passed back to consumers.”
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