This is important as it would allow the utility giant to continue to provide a reliable supply of electricity to the people and the nation, it said in a statement today.

The government has agreed to fund the rebate and surcharge amounting to RM5.8 billion.

The ICPT mechanism will continue to be implemented for the period of July 1 until Dec 31, 2022.

The electricity tariff for domestic users remains as it is as the government maintains the surcharge at 3.7 sen per kilowatt-hour (kWh) and rebate of 2.0 sen/kWh, while the surcharge of 3.7 sen/kWh is maintained for non-domestic customers.

“The recent hike of the fuel prices has resulted in TNB carrying higher than usual receivable balances. We are managing closely the receivables,” it said.

The government has provided a total subsidy of RM11.7 billion through 16 cycles since 2015, where TNB continues to remain neutral from the variations in fuel prices.