Thursday 28 Mar 2024
By
main news image

This article first appeared in The Edge Financial Daily on November 30, 2017

KUALA LUMPUR: Gas Malaysia Bhd said gas prices supplied to the non-power sector in Peninsular Malaysia would rise up to 18% from Jan 1 to June 30 next year.

The government, through the Energy Commission, had approved on Tuesday to effect the revision for the six-month period.

In a filing with Bursa Malaysia yesterday, Gas Malaysia said the average base tariff will increase to RM30.90 per million British thermal units (mmBtu) from RM28.05 per mmBtu currently, after taking into account costlier liquified natural gas.

Also, under the gas cost pass through (GCPT) mechanism, a surcharge of RM1.62 per mmBtu will apply to all tariff categories. This means the average effective tariff is RM32.52 per mmBtu.

Under the revised effective tariff after GCPT, residential consumers will pay RM23.92 per mmBtu from Jan 1, up 18% from RM20.23 currently.

Non-residential customers consuming up to 600 mmBtu per year will pay a tariff rate of RM30.40 per mmBtu, up 16% from RM26.11. Those who consume 601 mmBtu to 5,000 mmBtu will be charged RM30.55 per mmBtu, 16% more than the current RM26.25.

For 5,001 mmBtu to 50,000 mmBtu, the new tariff is RM30.84 per mmBtu, up 16% from RM26.51 now. For those consuming 50,001 mmBtu to 200,000 mmBtu as well as 200,001 mmBtu to 750,000 mmBtu per year, the new rate is RM32.10 per mmBtu, up 16% from RM27.66.

Those with annual consumption above 750,000 mmBtu, the revised effective tariff after GCPT is RM33.12 per mmBtu, up 16% from RM28.58.

“While the tariff revision has no material impact on Gas Malaysia’s business operations, it is expected to contribute positively towards the company’s financial position for the financial year ending Dec 31, 2018,” said Gas Malaysia.

      Print
      Text Size
      Share