FCPT TO BE IMPLEMENTED NEXT YEAR TO DETERMINE ACTUAL COST OF FUEL

12 Jul 2013 11:19

(changing headline, intro, second and sixth paras, replacing the word 'electricity tariff with 'actual cost of fuel')

KUALA LUMPUR, July 8 (Bernama) -- Tenaga Nasional Berhad (TNB) will implement the Fuel Cost Pass Through (FCPT) mechanism next year as a process to determine the actual cost of fuel.

Deputy Minister of Energy, Green Technology and Water Datuk Seri Mahdzir Khalid said the TNB mechanism was among the components in determining the actual cost of fuel under the Incentive-Based Regulation (IBR).

"The Energy Commission is in the process of implementing the IBR and among the components to be implemented is the FCPT mechanism. "Under this mechanism, any change in the fuel will be channelled to the consumers based on the determination of the tariff set by the government," he said in the Dewan Rakyat in reply to a question from Liang Teck Meng (BN-Simpang Renggam). Liang wanted to know when the FCPT mechanism would be implemented by TNB to reflect the actual cost of fuel.

-- BERNAMA

SYASA NJ SNS NHA