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Monday, February 9, 2009

Malaysia to lower electricity cost by 7-10 pct: reports

Malaysia will lower electricity tariffs for households and industry by 7-10 percent by the end of the month, said Energy Minister Shaziman Abu Mansor, according to reports Sunday.

Shaziman said his ministry had been in talks with state energy giant Petronas over a reduction, which due to falling oil prices will be implemented earlier than the original plan of mid-2009.

"We are pushing for an early review of the price of gas that Petronas sells to the power sector, in view of the declining prices of crude oil," he said, according to the New Straits Times.

Electricity tariffs were hiked 24 percent last July due to the higher cost of gas and coal. Rising petrol prices also triggered widespread anger and public demonstrations last year.

Shaziman said that some energy-hungry industries such as steel and semi-conductor manufacturing would also be eligible for rebates, and the ministry was studying which sectors would benefit.

"The incentive for electricity should ideally benefit value-added industries, for example business sectors that contribute to the country's economic growth," he said.

The cabinet will discuss the power price reductions Wednesday, Shaziman said, according to the official news agency Bernama.

Sumber: MSN News

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