Malaysian government studies opening up the power supply market on the Malay Peninsula

According to the Nanyang Business Daily on July 5, the Malaysian government discussed opening up the field of power supply on the Malaysian peninsula. The position of Malaysia National Energy (Tenaga), which has always monopolized the power supply on the Malaysian Peninsula, was afraid to be challenged, and the share price once plunged by more than 4%.

It is reported that the Malaysian Ministry of energy, technology, science, climate change and environment disclosed that the Ministry is launching a study to explore whether the power supply market should be opened and new power suppliers should join the competition, so that consumers can choose suppliers other than Malaysian energy. The research of the Ministry of energy, technology, science, climate change and environment of Malaysia aims to identify whether the liberalization of electricity retail can bring more competitive electricity tariff rates to consumers.

In view of this, the Ministry of energy is expected to submit the research results to the cabinet in the near future to help determine the future of power supply. Once the government decides to open the power retail supply market, it means that Guoneng is no longer the only power supply option for consumers in Peninsular Malaysia.