KUALA LUMPUR: The Government has approved and decided to implement Regulatory Period 3 (RP3) under the incentive base regulation framework (IBR) for the period of February 2022 to December 2024.

       In a filing with Bursa Malaysia, Tenaga Nasional Bhd said the Government had approved and decided via a letter from the Energy Commission (EC) to implement the RP3.

       “The Government has decided to maintain the current electricity tariff schedule for all customers in Peninsular Malaysia. This decision complies with the rules and regulation under the Regulatory Implementation Guidelines (RIGs),” it said.

       The Government has also approved the continued implementation of the imbalance cost pass-through (ICPT) mechanism for the period of Feb 1 until June 30, 2022.

       It said the decision was made to address the additional generation costs due to the higher fuel prices used for the supply of electricity during the period of July 1 until Dec 31, 2021.

       “TNB also wishes to inform that the impact of ICPT implementation, based on the RIGs, is neutral on TNB and will not have any effect to the business operations and financial position,” TNB said.