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Tenaga’s share falls after electricity retail liberalisation news

Syndicated News
Written by Syndicated News

KUALA LUMPUR, July 5 2019 : Tenaga Nasional Bhd emerged as one of the top losers on Bursa Malaysia as its share price fell by 4.39 per cent at mid-afternoon today, following news that the government was conducting a study to determine whether new energy suppliers should be allowed to enter the market.

At 3pm, the shares of the sole electric utility provider in Peninsular Malaysia fell 62 sen to RM13.52, with 4.76 million shares traded.

Online news portal Malaysiakini reported today that the Energy, Science, Technology, Environment and Climate Change Ministry was conducting a study to determine whether the liberalisation of the electricity retail sector would result in more competitive tariffs for consumers.

“The ministry is scrutinising and studying the proposal to liberalise the electricity retail sector to allow users to choose electricity suppliers other than Tenaga.

“With regard to this, the ministry is expected to table its findings to the cabinet in the near future to help determine the future of the electricity supply industry,” the ministry was quoted as saying in a parliamentary written reply dated July 3, 2019. – Bernama

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