Green electricity tariff premium rates cut by up to 80%

 The charges that were previously set based on user categories will now be combined into a single tier of pricing.

The GET programme was introduced in 2021, offering renewable power to customers of TNB seeking to reduce their carbon footprint. (Envato Elements pic)

KUALA LUMPUR:

 Malaysia has cut its green electricity tariff (GET) premium rates by up to 80% since yesterday in an effort to diversify its green electricity supply access options for companies to meet their environmental, social and governance commitments.

The premium rates that were previously set based on user categories will now be combined into a single tier of pricing, the energy transition and water transformation ministry said in a statement today.

All users will now pay five sen per kilowatt (kWh) hour for one-year contracts, four sen per kWh for two-year agreements, and three sen per kWh for three-year commitments.

The GET programme was introduced in 2021, offering renewable power to customers of state-run utility firm Tenaga Nasional Bhd seeking to reduce their carbon footprint.

The government previously set the 2025 GET programme quota of at least 6,600 gigawatt hours, with premium rates of 10 sen per kWh for domestic and non-domestic low voltage users, and 20 sen per kWh for non-domestic medium and high voltage users.

As these new provisions involve structural changes and cost implications, the ministry said, users will have the option to terminate their existing subscriptions without penalty until Aug 31.

It said that in response to demand from data centre operators as well as industrial and commercial users, it has also launched the GET GreenPath Programme to address the need for “tenant accounts” to receive formal recognition of their green electricity usage through renewable energy certificates.

This enhanced version of the existing GET programme will be implemented by TNB and opened for subscription on Aug 1. - FMT