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 ALL THE PRICES IN THE ECONOMY WILL GO UP AGAIN - ONE MORE ROUND

 

• BUSINESS associations want moratorium on new electricity surcharge 
• monthly electricity bills have skyrocketed 30% 
  
• new surcharge 20 sen per kWh introduced January 2023

My Comments: The last tariff hike was in Feb 2022  of only 3.7 sen per kW/h. At that time the businesses already complained the following:

• BUSINESSES forced to increase prices due to rise in electricity rates
• businesses will pass on additional electricity cost to consumers 

That was only an increase of 3.7 sen per kWh. 

Now this latest increase is 20 sen per kWh - more than FIVE TIMES the increase in 2022.

According to TMI above, the electricity bills for January 2023 have already jumped by 30%.

The businesses will be forced to increase their selling prices again. The consumer is going to suffer. 

Why did this Madani gomen raise the power tariff for industrial users by such a whopping huge figure of 20 sen per kWh?

Tenaga Nasional is certainly in no need of a tariff hike. 

In 2020 TNB made RM3.59 billion net profit. 

In 2021 TNB made RM3.66 billion net profit.

• The last tariff hike was only eleven months earlier in Feb 2022. 
• Tariff was raised by 3.7 sen per kWh for industrial users.
  

Why raise the tariff again, and by 20 sen per kWh just eleven months later in January 2023? 

So now ALL THE PRICES IN THE ECONOMY WILL GO UP AGAIN - ONE MORE ROUND.

Of course those price controlled items (barang kawalan harga) like eggs and chicken CANNOT GO UP.

So what will happen? There will be shortages in price controlled items because the producers will not be able to cover the higher cost of production. So they will produce less.  

That is what is going to happen. Just wait and see. 

 

 The views expressed are those of the writer and do not necessarily reflect those of MMKtT.