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FMM concerns about impact of possible cumulative gas price hikes

Saturday, 31 December 2016

PETALING JAYA: The Federation of Malaysian Manufacturers (FMM) is concerned about the impact of possible cumulative gas price hikes by end of 2019 due to the uncertain global economy in the next few years.

The industry group yesterday issued a statement following the announcement by the Energy Commission about the natural gas (NG) tariff rebate of 40 sen per mmBtu from January to June 2017.

The FMM said while it welcomed the rebate, it was concerned about a possible cumulative gas price increase of 22.6% by end of 2019.

On Thursday, Gas Malaysia Bhd said the Energy Commission had approved the average base tariffs for the regulatory period from January 2017 to end-2019.

This would see the average base NG tariff to be RM32.74 per mmBtu by 2019 from RM26.71 per mmBtu in January 2017.

Source by: Internet

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