It said the steep increase in electricity tariff surcharge effective Jan 1 for non-domestic users was hurting businesses and industries.

NCCIM said a phased increase would allow industries and businesses to adjust and plan their operations and investments.

“The increase to 20 sen/kWh from 3.7 sen/kWh would badly affect industries and businesses in terms of their operational costs and their competitiveness in the market,” NCCIM president Soh Thian Lai said in a statement.

NCCIM is the latest to voice concern about the tariff surcharge hike.

Soh called on the government to consult stakeholders through dialogues to find mutually beneficial and long-term solutions for the energy sector and the economy.

“The government should also consider providing exemptions or subsidies for industries and businesses that create high-value jobs or contribute to environmental sustainability.”

He also said the government must commit to developing renewable energy and energy storage to reduce overall energy costs for industries and businesses.

Earlier today, seven groups that represent hotels, theme parks, shopping malls and retailers called for a moratorium on the electricity tariff hike until the end of 2023 to provide time for them to recover after two years of the Covid-19 pandemic.