KUALA LUMPUR, July 1 — The Ministry of Energy Transition and Water Transformation (Petra) announced today that there will be no increase in electricity tariffs for all users in Peninsular Malaysia from July 1 to December 31, 2024. This decision underscores the government’s commitment to ensuring the well-being of the people by protecting domestic consumers through targeted electricity subsidies. The ministry also revealed a 1 sen/kWh reduction in the surcharge for street lighting categories managed by local authorities, aiming to enhance public lighting services.
Commercial and industrial users will benefit from a reduction in the Imbalance Cost Pass-Through (ICPT) rate by 1 sen/kWh during the same period. This reduction is expected to stabilize market prices and support investment in Malaysia, thereby boosting employment opportunities and stimulating the national economy. Petra highlighted that the government will bear a targeted electricity subsidy amounting to RM2.192 billion from July to December 2024, allowing for the reallocation of funds to other public services such as infrastructure, healthcare, and education.
Furthermore, the government remains committed to supporting the low-income group through the RM40 Electricity Rebate Programme for the hardcore poor registered with the e-Kasih System, with an allocation of RM55 million this year. Petra also encourages consumers to adopt energy-efficient practices and participate in programs such as the SAVE 4.0 Programme and the Net Energy Metering (NEM) Programme, which offer rebates for energy-efficient appliances and solar panel installations. These initiatives aim to promote sustainability and reduce electricity costs, ultimately easing the cost of living for the people.
