The study on new electricity tariff is expected to be completed sometime next year, said Deputy Minister of Energy, Green Technology and Water Datuk Seri Mahdzir Khalid.
He said the ongoing study is being conducted by a committee formed by the ministry with representatives from the Energy Commission, Tenaga Nasional and Petronas.
Among the issues under consideration is the cost of the source of energy and the impact any new tariff may have on consumers.
“The report will be presented to the National Economic Advisory Council and Cabinet for consideration. We will know only then if the tariff is being increased or otherwise,” he added.
Mahdzir said this at a press conference here Wednesday after officiating an International Conference co-organised by The Institution of Engineers, Malaysia (IEM) and Institution of Engineering and Technology Malaysia (IET).
The conference, themed, “Sustainable Development Through Innovations in Energy Management and Technology”, is aimed at discussing pertinent issues on sustainable energy and delivering solutions for energy utilisation via engineering.
Mahdzir said energy management was something important to look at in terms of efficiency improvement and renewable energy.
He said renewable energy at present contributed only two per cent of the total energy requirements with 90 per cent coming from oil and gas and eight per cent generated through hydro power.
“Malaysia is looking to increase the source of renewable energy to 11 per cent by 2020 through various initiatives and participation, especially by the private sector,” he added.
Malaysia’s demand for energy is increasing, driven by economic activity, industrial production, population and urbanisation, and thus it timely to expand into renewable energy sources.
Meanwhile, Datuk Lim Chow Hock, Deputy President of IEM said green technology, particularly in alternative and renewable energy, has immense potential in spearheading the country’s development.
“The market for green products is huge as many companies are already trying to save on energy costs. Industries can also provide new employment opportunities for skilled Malaysians,” he added.