Tenaga falls 5.9% on plan for rebates on electricity bills

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KUALA LUMPUR (March 30): Shares in Tenaga Nasional Bhd (TNB) fell 5.97% this morning after the utility giant said it has set aside RM150 million following the Government’s stimulus announcement today that Malaysian households and businesses will get tiered rebates for six months on their electricity bills.

At 9.30am, TNB fell 74 sen to RM11.66, valuing it at RM66.31 billion.

According to TNB, under the tiered rebate system, three million domestic consumers (with monthly consumption of below 200kWh) will receive a 50% rebate, while 1.5 million consumers (with monthly consumption between 201kWh and 300kWh) will get a 25% rebate. Another 2.2 million consumers (with monthly consumption between 301kWh and 600kWh) will get a 15% rebate.