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Tuesday, January 6, 2015

Harga Minyak Jatuh. So What? TNB, GLCs Still Ripping Us Off

By the way the PM has an e-coli infection. E coli (escherichia coli) is usually transmitted through faeces. Now Satu Malaysia is talking about the PM's e coli infection. 

I say, what about the few MILLION people in Kelantan, Terengganu, Pahang, Johor, Perak, Perlis and Kedah who are still without fresh water and living in tents under the trees. Like this family here:

This pix is from The Star

Earliest projections are that it will take SIX MONTHS to get their houses fixed. Until then  they will be sleeping in  tents and under plastic sheets like this?  Wont they be at risk of e coli infections and every other effing coli? 

Do you think it matters much to these people that the PM got an e coli infection? Isnt that just full of s**t?

OK folks - today's Star carried a story that traders and restaurants are NOT lowering their prices despite oil prices dropping.

The pump prices have dropped 39 sen (RON 95) from RM2.30/l to  RM1.91/l. That is a big drop - 17%.

For your info folks, I have not stopped looking at oil prices. During the floods in Pahang, Kelantan and elsewhere the world oil prices were crashing again. West Texas Intermediate has slipped below US53 per barrel. Here is today's online quote (6:45pm local time).

WTI Crude Oil
US$52.69    ▼-0.58         -1.10%

US$52.69 and still falling.

My first question is how come TNB is NOT reducing their electricity tariffs? 

Dulu bila harga minyak naik, TNB blame the IPPs.  That was not correct. TNB and the IPPs have a 'pass through' clause in their PPA agreements (Power Purchase Agreements).  

TNB passes the higher oil prices to us - the consumer.  The IPPs only make the profit on the agreed margins. 

The exact same thing when the oil price gows down. The IPP MUST lower their price because the lower oil price is a direct pass through from the IPPs to TNB.

But how come TNB does not reduce the electricity tariff? Minyak  sudah murah. 

So what is happening now is that the IPPs are charging TNB less money for power (because the harga minyak has crashed). But TNB is charging us - the dumb ass consumers - the full price, as though the oil price never decreased.  TNB is making super duper profits this year !!

Jangan pula klentong that TNB burns coal in its power plants. (Which is what they said last time).  Jangan bohong. Everyone knows that the bulk of TNB's power generation is from gas fired and other fuel oil fired power  plants.  (Thats why they always whine about the IPPs when the oil price goes up).

But if you want to talk about coal prices, please note that the coal prices have also collapsed in the world markets. 


From US$180 a ton in 2008, coal is now US$47 a ton - a 74% drop.  

Woi TNB - apa pasal harga api tak turun? Harga arang batu sudah jatuh merudum sejak 2008 lah !!

And about half of IPPs are owned by TNB. Betul tak?  TNB is also an IPP.

And do you know which  IPP  is the largest supplier of  power to TNB? Bukan Syed Akbar Ali punya IPP.   Tapi 'Syed' juga.

So what is happening is that the GLC oligopolies that control so much of the country's economic resources as well as the country's economic sectors are NOT dropping their monopolistic or oligopolistic prices. Despite oil prices crashing. 

Despite coal prices having crashed for the past seven years. 

So how do you expect the warong Kak Siti, the kedai mamak and the mini market to lower their prices?

The price of rice in Malaysia is more expensive than in Singapore and Australia.  Rice is monopolised by one company in Malaysia.

The prices of cars in Malaysia are among the highest in the world because of the APs and the duties.

The price of cement in Malaysia is among the highest in the region because a few companies control the cement market. Another  oligopoly.  Senang nak control market.

The price of sugar is also controlled by one or two companies. Monopoly pricing again.

We can go on and on.

Kekawan dengar baik-baik ok. Harga minyak sudah jatuh merudum. Harga arang batu (coal) pun dah jatuh merudum. Tapi syarikat gergasi GLC, syarikat gergasi kroni, syarikat gergasi monopoli, syarikat gergasi oligopoli semua TIDAK AKAN menurunkan harga barang yang mereka monopoli atau oligopoli. 

Why should they lower their prices?  They were not born to parents who were Ministers of Social Welfare (Kebajikan Masyarakat). 

No such thing. Bila kita bodoh - depa pukul habis lah. 

So that is why kekawan - harga minyak sudah jatuh, harga arang batu sudah jatuh, tapi harga barang tak akan turun.

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