SERDANG (March 26): The government is scrutinising the proposal to reduce electricity tariff in the country in line with the drop in the prices of coal and natural gas in the global market, said Prime Minister Tun Dr Mahathir Mohamad.
Asked by reporters on the government’s plan to reduce the rate of electricity tariff following the drop in the prices of coal and gas in the international market, Dr Mahathir said the proposal paper on the matter would be taken to the cabinet for consideration.
“What is important is that we want to reduce the cost of living burden borne by the people at the moment. The tariff rate has yet to be finalised,”he said when met after attending the Premier Assembly of the Congress of Unions of Employees of Public and Civil Services (CUEPACS) with the Prime Minister, here yesterday.
According to the media reports, the price of the United States (US) Liquefied Natural Gas (LNG) dropped more than 40 per cent since June last year to US$6.50 (RM26.50)/MMBtu which was the lowest since September 2017.
Meanwhile, the cargo price of coal for exports from the Newcastle Terminal for the quarter since the middle of 2018 to below US$90 (RM366) per ton for the first time since 2017.