New Green Electricity Tariff premium rate set at 21.8 sen per kWh

New Green Electricity Tariff premium rate set at 21.8 sen per kWh

PUTRAJAYA — The new premium rate for the green electricity tariff (GET) programme is set at 21.8 sen per kilowatt hour (kWh) starting Aug 1, says natural resources, environment and climate change minister Nik Nazmi Nik Ahmad.

The current GET premium rate is 3.7 sen/kWh for the period of July 1 to 31.

The decision on the new tariff was based on the benchmark for setting the retail price of green electricity supply, Nik Nazmi said.

“Taking into account that this move will involve an increase to the current GET premium rate, the existing customers are given until July 31 to reconfirm their subscriptions,” he said, adding that Tenaga Nasional Bhd (TNB) will make adjustments to the electricity bill for the users involved.

GET initiative was introduced on Jan 1, 2022, to enable users with environmental, social and governance (ESG) commitments to reduce greenhouse gas emissions through subscribing to electricity from renewable energy (RE) sources.

Nik Nazmi said GET customers are not charged the Imbalance Cost Pass-Through (ICPT) as it does not involve the use of fossil fuels.

He added, the previous 30% GET subscription quota limit has been abolished and customers can now subscribe GET for up to 100% of their energy needs.

For this year, the GET subscription offer that opened in February, with a total quota of 6,600 GigaWatts per hour (GWh) at a premium tariff rate of 3.7sen/kWh, has been fully subscribed by 2,361 domestic, commercial and industrial users.

“The revenue collected from the implementation of GET will be used for the purpose of developing and increasing the new capacity of RE sources in the national electricity supply system,” he said.

–Bernama

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