Reduction in gas subsidies should be earnings neutral... Recall that under the proposal unveiled by Pemandu, gas price to the power sector and electricity tariff would see an initial increase of RM4.65/mmbtu and 2.4 sen/kWh respectively. Thereafter, gas price and electricity tariff will be raised by a fixed rate of RM3/mmbtu and 1.6 sen/kWh every six months until 2015, where the price of gas is expected to reach market price. Overall, management stressed that the impact is expected to be earnings neutral, although this would depend on the level of demand.
Tenaga Nasional Berhad : Back To Basics - Focus On Demand - 09/06/2010
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