January 28, 2019
Dateline 2018-12-27, The Star:
Natural gas distributor Gas Malaysia Bhd has announced that the Energy Commission has approved higher natural gas tariff for the non-power sector in Peninsular Malaysia, from Jan 1 to June 30.
While the higher tariff would be a boon for Gas Malaysia, businesses in Peninsular Malaysia should brace for higher cost of operations.
Higher gas tariff would increase cost for energy-reliant industries such as the iron and steel, rubber gloves and chemical-based industries.
In a filing with Bursa Malaysia yesterday, Gas Malaysia said the average natural gas base tariff would increase to RM32.69 per one million British thermal units (MMBtu) from the current price of RM31.92 per MMBtu for the first half of 2019.
August 28, 2018
I think S&P’s auto copy articles could do with some work.
Dateline 2018-06-21, S&P Global:
The Malaysian Iron and Steel Industry Federation has asked the government to maintain natural gas prices at the current level for about three years, it said Wednesday.
Gas Malaysia said on June 13 it would raise the price of natural gas to MR32.69/MMBtu ($8.15/MMBtu) from MR32.52/MMBtu currently from July 1 to December 31.
August 24, 2018
Dateline 2018-06-18, The Sun Daily:
The Federation of Malaysian Manufacturers (FMM) is urging the government to maintain electricity tariffs until Dec 31, 2020 and accord the Social Security Organisation (Socso) with the responsibility of managing funds collected under the Employment Insurance System (EIS), which is now under review.
Last week, Gas Malaysia Bhd announced that the average effective natural gas tariff for the non-power sector in Peninsular Malaysia will be increased by 17 sen or 0.5% to RM32.69/MMBtu for the period of July 1 to Dec 31, 2018 from RM32.52/MMBtu for the period of Jan 1 to June 30, 2018. The move has kindled concerns that electricity tariff rates will be hiked.
“While FMM is steadfast in its commitment towards energy subsidy rationalisation and although the 0.5% increase is lower than the previous period’s 22.97%, it is nevertheless still an increase in energy costs,” it said in a statement today.
Following that, FMM hopes that the new government will uphold the past Cabinet’s decision, announced on December 26, 2017, to maintain current electricity tariff rates in Peninsular Malaysia for Jan 1, 2018 up to Dec 31, 2020, in a bid to help relieve the energy cost burden on the manufacturing sector as well as to benefit the rakyat as household consumers.
August 19, 2018
Dateline 2018-06-13, The Star:
Businesses and high-end condominiums which receive natural gas through the pipe system will have to pay more under a scheduled increase with effect from July 1.
Gas Malaysia said on Wednesday these customers will have to pay higher tariffs after it imposes the surcharge of 77 sen, raising the tariff to RM23.80 per one million British Thermal Units (BTU).
The incentive based regulation (IBR) framework sets the base tariff for a regulatory period of three years from January 2017.
The company said it had received the go-ahead from the Energy Commission to raise the surcharge under the mechanism for the tariffs following the global increase in gas prices.
The IBR allows changes in the gas costs to be passed through via the Gas Cost Pass Through (GCPT) mechanism every six months.
July 15, 2018
Dateline 2018-06-13, The Sun:
Gas Malaysia Bhd has announced a higher average effective natural gas tariff for the non-power sector in Peninsular Malaysia at RM32.69/MMBtu from July 1 to Dec 31, 2018, 17 sen or 0.5% higher than the RM32.52/MMBtu from Jan 1 to June 30, 2018.
It said in a filing with the stock exchange that the average natural gas base tariff is set at RM31.92/MMBtu for the second half of the year. However, under the gas cost pass through (GCPT) mechanism, a surcharge of 77 sen/MMBtu will apply to all tariff categories due to the higher actual gas costs against the reference gas costs in the base tariff.
The natural gas tariff revision was approved by the government via a letter from the Energy Commission dated June 12.
For Category A (Residential), the effective tariff rate, however, fell 0.5% to RM23.80/MMBtu from RM23.92/MMBtu. For the other categories, the effective tariff rate will range from RM30.50/MMBtu to RM33.32/MMBtu.
August 22, 2017
Dateline 2017-07-14, The Star:
Gas Malaysia Bhd has revised up the natural gas tariff for Peninsular Malaysia’s non-power sector to an average base tariff of RM28.05 per MMBtu (one million British thermal units).
However, a government subsidy will lead to lower effective tariff rates for all tariff categories for the period from July 1 to Dec 31, 2017, compared with the existing rates.
In a filing with Bursa Malaysia, the gas distributor said the Government, through the Energy Commission, had approved on Friday for Gas Malaysia to effect the revision for the six-month period.
The Government has prescribed the incentive based regulation (IBR) framework, which sets the base tariffs for a period of three years from January 2017 and allows changes in the gas costs to be passed through via the Gas Cost Pass Through (GCPT) mechanism every six months.
August 13, 2016
Dateline 2016-07-04, Asia Review:
Gas Malaysia, partly owned by infrastructure company MMC Corp., is raising natural gas tariff in a move that analysts say will spare utilities from higher costs but may weigh on earnings of manufacturers which uses gas as an input.
The average gas tariff for heavy consumers and commercial users will rise by 6.0% to 27.05 ringgit per one million British thermal unit from July 15, Gas Malaysia said in a stock exchange filing. Selling prices for most residential customers meanwhile remained unchanged.
The increase in the piped-gas tariff will be “positive” in generating cash for national oil and gas producer Petroliam Nasional, or Petronas, while the impact on state-run power producer Tenaga Nasional
is “likely to be neutral,” said Fitch Ratings.