December 01, 2011 19:56 PM
KUALA LUMPUR, Dec 1 (Bernama) -- Tenaga Nasional Bhd (TNB) has received a letter from the government that provides a fuel cost-sharing mechanism to address the current increased cost borne by the company due to the gas shortage.
In a filing to Bursa Malaysia Thursday, TNB said it, Petroliam Nasional Bhd and the government would each equally share the differential cost it incurred due to dispatching on alternative fuels and also imports, from Jan 1, 2010 until Oct 31, 2011 of approximately RM3.07 billion.
Presently, TNB is facing a higher operational cost due to the extra cost of generation arising from running the power plants on expensive alternate fuels and power import from Singapore and Thailand.
TNB said it would be liaising as soon as possible with the relevant parties to implement this mechanism in view of the urgency of the matter and the critical financial situation it faced.