KUALA LUMPUR (April 10): In light of the current Covid-19 pandemic, growth prospects for Malaysia’s electricity industry look uncertain this year and will depend on the country’s economic recovery post Covid-19, said Tenaga Nasional Bhd (TNB) president and chief executive officer Datuk Seri Amir Hamzah Azizan.

“We are closely monitoring the related risks and potential impact as well as implementing necessary measures to ensure electricity demands are met in a sustainable manner,” Amir said in his outlook commentary published in the utility giant's 2019 annual report.

Meanwhile, Amir said the group has submitted the Regulatory Period 3 (RP3) 2021–2023 proposals to the government in January for consideration, with negotiations expected to begin in the third quarter this year followed by a decision made in the fourth quarter.

“We believe that we have submitted a forward looking proposal that not only safeguards the reliability and affordability of electricity supply but also contributes towards a collaborative future in which increased participation from renewables will be seamless, with no disruption to the grid or, ultimately, our customers,” he said.

That aside, Amir said the group is looking forward to its 1,440MW gas-fired plant in Pasir Gudang, Johor, and the 30MW large-scale solar plant in Bukit Selambau, Kedah, to come on-stream in July and December respectively.

The group is also expecting an enhanced performance of its generation assets together with full-year contribution from its new 2,000MW Jimah East power plant.

“At the corporate level, our restructuring will be completed by the third quarter of 2020, when TNB Power Generation and TNB Retail become operational. This will lead to more efficient generation and retail operations.

“In terms of the latter, we are committed to continuously enhancing our service levels and to grow our offerings, especially those beyond kWh such as rooftop solar products managed by GSPARX,” he added.

At 2.52pm, TNB shares added 0.33% or 4 sen to RM1.08 with 1.95 million shares traded.