MALAYSIA: GAS TARIFF REVISION FOR NON-POWER SECTOR EFFECTIVE JAN 1

KUALA LUMPUR– Gas Malaysia Bhd announced that the revision of the natural gas tariff for the non-power sector in Peninsular Malaysia will be effective from Jan 1, 2018 to June 30, 2018.

In a filing to Bursa Malaysia today, Gas Malaysia said it had received the approval from government via a letter from the Energy Commission dated Nov 28, 2017.

“The government has prescribed the Incentive Based Regulation (IBR) framework which sets the Base Tariff (BT) for a Regulatory 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,” it said.

The average natural gas BT is set at RM30.90 per one million British Thermal Units (MMBtu) for the period beginning January to June 2018 in line with Gas Malaysia’s announcement on Dec 28, 2016.

In addition, under the GCPT mechanism, a surcharge of RM1.62 per MMBtu will apply to all tariff categories due to the increased liquefied natural gas (LNG) price against the reference price in the BT in this period.

Source: NAM NEWS NETWORK