The article covers the government’s move to minimise its role in fixing electricity tariff via the Malaysian Electricity Supply Industry reform initiative (MESI Reform 2.0) which would lead to a gradual transition to an open wholesale system that would create higher competition in the generation sector. In its research note, MIDF Research said the country’s power sector always has the possibility of opening up parts of its existing value chain to market-based competition in the areas of electricity wholesaling and retailing.
The article covers the panellists at the Conference of Electric Power Supply Industry (CEPSI) 2018 who said deregulation or liberalisation of Malaysia’s power sector will bring about great opportunities for Malaysia. Accenture Digital (Asean) managing director James Chong noted Energy, Science, Technology, Environment and Climate Change Minister Yeo Bee Yin’s assurance that Malaysia will be undergoing deregulation over the next two to three years and said “Deregulation or liberalisation gives the ability to do a few things. Firstly, it provides the ability to give more choices to customers and secondly, it gives the ability to then lower the costs in certain segments of the population. Thirdly and most importantly, it will make the energy industry more effective, efficient and allow them to reinvent themselves."
The article covers Prime Minister Tun Dr Mahathir Mohamad's keynote address at the launch of 22nd Conference of the Electric Power Supply Industry (CEPSI) 2018 in which he says that Malaysia will not use nuclear power plants to generate energy, as science has yet to find ways to manage nuclear waste and the effects of radiation. Malaysia, he said, will continue to rely on existing fuel sources to generate electricity, such as fossil fuel, coal, hydroelectric dams and wind power, which he said is stable and environmentally-friendly.
The article covers the Energy, Science, Technology, Environment and Climate Change Ministry which has set a target of 18% of the country's electricity to be generated from renewable sources by 2030, an increase from 2% currently. “I am very confident (that) the target is definitely achievable by 2030. However, I want to stress that we must not take priority over energy affordability only for the renewable energy (RE) target, it must be a balance between how affordable the electricity versus our adoption of RE,” she told a press conference after officiating the 22nd Conference of the Electric Power Supply Industry (CEPSI) 2018 here today.
The article covers Energy, Science, Technology, Environment and Climate Change Minister Yeo Bee Yin who said the government hopes to come out with a legislation on energy efficiency conservation next year. Speaking to reporters after officiating at the 22nd Conference of the Electric Power Supply Industry (CEPSI), Yeo said Putrajaya will also announce the Electricity Energy Action Plan in the middle of next month.
The article covers Prime Minister Tun Dr Mahathir Mohamad who said the federal government is ready to revise the existing 5% royalty paid to oil-producing states, but the move must be done without “killing” Petronas, “We don’t want to kill Petronas. If we take 40% for oil royalty from its operating cost, Petronas will lose money,” added Tun Dr Mahathir Mohamad.
The article covers Gas Malaysia Berhad assuring the public that the gas leak incident near the Kampung Selamat MRT on Sunday is now controlled and secure.
The article covers Egypt having signed a deep-water oil and gas exploration deal with Royal Dutch Shell and Petronas worth around US$1 billion (RM4.14 billion) for eight wells in the country’s West Nile Delta, the petroleum ministry said on Saturday. The country also signed a second US$10 million deal with Rockhopper, Kuwait Energy and Canada’s Dover Corporation for exploration in the Western Desert, a ministry statement said.
