Dateline 2015-10-26, The Sun:
The implementation of the incentive-based regulation framework (IBR) by Gas Malaysia Bhd will take effect on Jan 1, 2016.
The IBR is a form of economic regulation aimed at incentivising Gas Malaysia for better operational and financial performance, whilst regulating the natural gas tariff.
In support of the liberalisation of the natural gas industry, which is to gradually align current piped gas towards market prices, the IBR is introduced to promote efficient resources allocation and usage, and sustainable financial performance, Gas Malaysia said.
With respect to its implementation, the IBR will first be on a trial run in 2016, following which the first regulatory period will run for the next three years from 2017 until 2019.