save malaysia!

Malaysia's electricity demand grows 3.8pct in 2023: TNB chairman

Publish date: Tue, 21 May 2024, 05:09 PM

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) says electricity demand, an indicator of Malaysia's economic performance, has grown 3.8 per cent in Peninsular Malaysia and Sabah, compared to the previous year's 6.1 per cent. 

TNB chairman Datuk Abdul Razak Abdul Majid said the growth was supported by strong demand in both domestic and commercial segments at 5.5 per cent and 9.9 per cent growth respectively. 

"Our strategic initiatives demonstrate our unwavering commitment to becoming a premier provider of sustainable energy solutions, thereby supporting Malaysia's economic growth in alignment with the Madani Economy Framework, aiming to restructure the economy and enhance the quality of life for all Malaysians. 

"We are at the forefront of advancing these objectives through pivotal flagship projects outlined in the National Energy Transition Roadmap (NETR). These initiatives will increase renewable energy (RE) gradually, reinforcing our leadership in sustainable energy solutions," he said at TNB's 34th annual general meeting today.

TNB president and chief executive officer Datuk Ir. Megat Jalaluddin Megat Hassan said it is preparing for Regulatory Period 4 (RP4) 2025-2027 with significant capital expenditure to support Malaysia's energy transition and projected electricity demand growth. 

"We are ready to execute exciting programmes within NETR, ensuring Malaysia achieves its energy transition goals. With TNB leading the charge, we are confident in fostering a sustainable, resilient, and prosperous future for all," he said. 

TNB is leading three key large-scale renewable energy and clean technology initiatives in NETR namely centralised large-scale solar (LSS) parks, hybrid hydro floating solar (HHFS) and hydrogen and ammonia co-firing projects. 

These initiatives aim to deliver over 3,000 megawatt (MW) of renewable energy capacity by 2040, with around 2,500MW from HHFS technology and an additional 500MW from five different LSS parks. 

TNB plans to install HHFS up to 230MW capacity at the Temenggor and Chenderoh hydro plants by 2025, and the company is exploring a 100MW ground-mounted solar project in Perak.

"We are committed to driving growth and achieving Net Zero targets, guided by the Energy Transition Plan. By focusing on the pillars of our strategic focus - Energy Sources, Energy Vector and Energy Usage, we aim to deliver clean energy generation, develop energy transition networks, and promote dynamic energy solutions," Megat Jalaluddin said.

"In 2023, our transmission system minutes were maintained at 0.48 and power plants recorded a solid 83.3 per cent availability factor throughout 2023 showcasing our resiliency and efficiency. The Customer Satisfaction Index reached a record high of 88 per cent, complemented by a Customer Experience Index score of over 90 per cent across all touchpoints. These scores reflect our dedication to providing exceptional service and customer experience," he added.

Related Stocks
Market Buzz
Be the first to like this. Showing 0 of 0 comments

Post a Comment