KUALA LUMPUR: The electricity industry is set to undergo a transformation through the implementation of the Malaysia Electricity Supply Industry (MESI) 2.0 reforms aimed at enhancing the domestic electricity supply industry.
Energy, Science, Technology, Environment and Climate Change Minister Yeo Bee Yin said the government would set up a special agency called MyPower Corp to roll out the initiative.
She said the agency, comprising 10 to 20 energy industry experts, would only operate for 36 months following the conclusion of MESI 2.0.
"The government will act as a driver, but the prime mover of this transformation is the local experts and professionals. Meetings and discussions will be held with stakeholders to assist the government in implementing this,” Yeo said at a press conference after the launch of the 2018 Electric Power Supply Industry Conference (CEPSI 2018), at the Kuala Lumpur Convention Centre here today.
Also present were Tenaga Nasional Bhd chairman Tan Sri Leo Moggie and its president and chief executive officer Datuk Seri Azman Mohd.
"Through this MESI 2.0, we aim to achieve three objectives namely to increase industry efficiency, to regulate industry structure and key processes and to empower consumers.
"Upon completion of the reforms, we expect the market structure to be more transparent and efficient as well as more costly tariffs based on market conditions," Yeo added.
The largest conference on energy and power supply industry in Malaysia is attended by 2,000 delegates for over three days until Thursday.