KUALA LUMPUR: National utility company Tenaga Nasional Bhd (TNB) will not be imposing a tariff hike in 2018, says TNB chairman Tan Sri Leo Moggie.
Speaking after the company’s annual general meeting, Leo Moggie said the government has not decided on any hikes thus far and the company is not expecting any changes on the base tariff rate.
"We have a regulatory review every 3 years and usually the government will inform us if there are any hikes or changes to the tariff to be made in December and an announcement will be made in January.
"It is up to the discretion of the government is there should be any tariff hikes but it is most likely we are not expecting any for the next year," said Moggie when asked on the possibility of raising the tariff in 2018.
The last base tariff revision was made in 2014.
TNB will usually present its total cost calculation for producing electricity from generation to the delivery of electricity to consumers to be purviewed by the government.
Meanwhile, chief executive officer Datuk Seri Azman said the utility company aims to increase its renewable and conventional energy contribution to earnings to 70:30 from the current 90:10 ratio.
"However we have to bear in mind that due to the intermittent nature of renewable energy currently, our investments have to be backed on conventional energy as well.
"Until the time comes that we can actually see more stable renewable energy production, we are investing RM10.5 billion for all transmission, generation and renewal energy for our capital expenditure for next year," he said.