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TNB expects Green Electricity Tariff quota to increase in 2023

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KUALA LUMPUR: Tenaga Nasional Bhd (TNB) expects the Green Electricity Tariff (GET) quota to increase and be awarded on a yearly basis in 2023.

TNB chief retail officer Datuk Megat Jalaluddin Megat Hassan said this is due to the high demand this year during which the quota set was fulfilled in just a few months.

“All quotas generated through hydro and large scale solar (LSS) programmes have been taken. We launched in January and by mid-March, the quota had been fulfilled by customers.

“For 2023, we expect the quota to be given on a yearly basis and the number will also increase because we are now building the LSS that can start operating next year. so, we have an opportunity to give GET to users,” he told reporters after S P Setia Bhd’s green initiative ceremony on Wednesday.

However, he did not disclose the additional quota that will be offered for 2023.

Megat Jalaluddin said he believes that GET is able to obtain 50% higher demand than the amount offered this year.

On the collaboration between TNB and S P Setia, he said the collaboration consists of three main focuses, which are the installation of solar energy panels on the roof of S P Setia’s property premises, providing electronic vehicle (EV) chargers at the property developer’s housing and a combination of solar energy and batteries to S P Setia and TNB customers.

“So, this is a solution for TNB and S P Setia users where they can generate their own electricity on the roof of the house and get EV-ready in the house developed by S P Setia.

“We also expect the market for batteries to be competitive where users can instal commercial and residential development batteries. When batteries are combined with solar generation during the day, it is a very useful combination,” he said.

He said TNB found that customers achieve monthly savings of between 20% and 50% from the installations that have been carried out for domestic use while commercial users achieve electricity bill savings at their respective premises of between 20% and 30% on average.

Megat Jalaluddin said following the collaboration with S P Setia, TNB also attracted the interest of several other property developers and is currently in discussions with three of them.

S P Setia has also started the first phase of its green initiative in collaboration with TNB with the installation of solar panels at S P Setia’s corporate headquarters in Setia Alam.

On Budget 2023 wish list, he said TNB has submitted several proposals to the authorities.

“The proposal is to focus on green energy in line with the government’s intention to launch the National Energy Policy, the essence of which is related to green energy initiatives,” he added.

The Budget 2023 will be presented at Parliament on Oct 7.

Source : The Edge Markets

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