Govt decides to maintain electricity tariff from Feb 1, 2022 to Dec 31, 2024

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From Feb 1 to Dec 31, 2024 under the Incentive-Based Regulation mechanism.

According to the Energy Commission , the tariff rate has been used since Jan 1, 2014 when the IBR mechanism was introduced as a new policy in the setting of electricity tariffs, and this decision also applies to commercial and industrial users.

This means the rebate of two sen per kWh is maintained for all domestic users without any surcharge, and no hike in electricity tariff for all domestic users in the peninsula. According to the EC, under the ICPT mechanism, the cost of fuel and electricity generation will be reviewed every six months and passed on to the consumers in the form of rebate or surcharge depending on savings or increase in costs involved.

As a move to minimise the effects of higher electricity bill due to ICPT surcharge, electricity users in the peninsula are encouraged to subscribe to the Green Electricity Tariff , that is, electricity supply from renewable energy so as to enjoy exemption from electricity ICPT surcharge for a one-year period.

 

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