Electricity tariff up 15 pct, Sabah 5 sen

Come Jan 1, 2014, electricity tariff in Peninsular Malaysia will be raised by 15 percent, or 4.99 sen per kilowatt, bringing the new cost to 38.53 sen.

This was announced by Energy, Green Technology and Water Minister  Maximus Ongkili in in a press conference in Parliament today.

Previously, the tariff was 33.54 sen per kilowatt.

Meanwhile, Sabah and Labuan see an increase in electricity tariff of 5 sen.

Earlier, Tenaga Nasional Bhd (TNB) had asked for a suspension on the trading of its shares trading this afternoon.

According to Bursa Malaysia Securities Bhd, TNB in its filing said the two-and-a-half-hour suspension from 2.30pm to 5pm today was pending the company's "material announcement" this afternoon, possibly referring to today's press conference.

Last Wednesday, Ongkili announced that a 10 to 20 percent electricity tariff hike was on the cards for next year.