An association that represents all 14 independent power producers (IPPs) in the country has denied that its members are profiteering from selling electricity to national electricity company Tenaga Nasional Bhd (TNB) at an exorbitant price.
"The rate of return (ROR) is reasonable and had been agreed (upon)," said E Thurumanathan, council member of the Association of Independent Power Producers (Penjanabebas).
However he refused to divulge the average ROR of IPPs when further pressed.
Thurumanathan (far right) was at a press conference chaired by Peter Chin, the Minister of Energy, Green Technology and Water, at his office in Putrajaya today.
The 90-minute press conference was called to explain issues related to the gas subsidy provided to the power industry and IPPs.
Representatives of TNB, Petronas, the Performance Management and Delivery Unit (Pemandu) and Energy Commission were also present.
Thurumanathan revealed that ROR of IPPs had been stated in the power purchase agreements (PPAs) and agreed to by both the government and TNB.
However the PPAs, signed between the IPPs and TNB have a non-disclosure clause and the documents are not available to the public. Among others, they contain details of the tariff that the IPPs charge TNB.
Many have alleged that TNB is required to pay an exorbitant price to purchase power from IPPs. Umno Youth chief Khairy Jamaluddin Abu Bakar had once described the deal as 'lopsided' and 'unfair'.
[More to follow]
"The rate of return (ROR) is reasonable and had been agreed (upon)," said E Thurumanathan, council member of the Association of Independent Power Producers (Penjanabebas).
However he refused to divulge the average ROR of IPPs when further pressed.
Thurumanathan (far right) was at a press conference chaired by Peter Chin, the Minister of Energy, Green Technology and Water, at his office in Putrajaya today.The 90-minute press conference was called to explain issues related to the gas subsidy provided to the power industry and IPPs.
Representatives of TNB, Petronas, the Performance Management and Delivery Unit (Pemandu) and Energy Commission were also present.
Thurumanathan revealed that ROR of IPPs had been stated in the power purchase agreements (PPAs) and agreed to by both the government and TNB.
However the PPAs, signed between the IPPs and TNB have a non-disclosure clause and the documents are not available to the public. Among others, they contain details of the tariff that the IPPs charge TNB.
Many have alleged that TNB is required to pay an exorbitant price to purchase power from IPPs. Umno Youth chief Khairy Jamaluddin Abu Bakar had once described the deal as 'lopsided' and 'unfair'.
[More to follow]
- Malaysiakini
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