KUALA LUMPUR — The Ministry of Finance (MoF) and the Ministry of Energy Transition and Water Transformation (Petra) are reviewing and considering a request for an imbalance cost pass-through (ICPT) payment of RM162 million to Sabah Electricity Sdn Bhd for the period from June to December 2023.
Finance Minister II Datuk Seri Amir Hamzah Azizan said that the ministry is also considering a moratorium on the repayment of Sabah Electricity’s loan to the government, estimated to be around RM65 million.
In line with the agreement to transfer the electricity supply regulatory authority to the Sabah state government on Jan 3, 2024, he said the government is committed to providing an electricity subsidy of RM3.54 billion over seven years, until 2030, following the transfer of regulatory authority.
“Until September 2024, the government has disbursed RM449.4 million in electricity subsidies (from the total allocation for 2024 of RM507 million) based on claims that have been reviewed and verified by the Sabah Energy Commission to Sabah Electricity.
“The remaining allocation of about RM57.6 million will be disbursed once the claims are submitted, and this balance is expected to be fully disbursed before the end of this year,” he said.
Bernama reported Amir Hamzah saying this when winding up the debate on the Supply Bill 2025 at the committee stage for the Finance Ministry in the Dewan Rakyat yesterday.
He said the government has allocated RM700 million for electricity subsidies, an increase of RM193 million from the 2024 allocation of RM507 million, for 2025.
On Tuesday, Amir met with Sabah Electricity Sdn Bhd (Sabah Electricity) chairman Datuk Seri Wilfred Madius Tangau who briefed the second finance minister on the company’s financials and the threat of a statewide blackout in January if no further assistance from Putrajaya is forthcoming.
Tangau said he hoped the Finance Ministry could provide at least RM280 million in electricity subsidy before the year-end, and another RM280 million early next year, to avert electricity supply disruption in Sabah. – November 14, 2024
