this post was submitted on 25 Jun 2023
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I think that from TNB's point of view, cost of electricity has indeed increased. If I'm not mistaken, TNB buys energy from suppliers (the power stations and any overseas links), distributes and sells to consumers.
It's actually the government's fault, I think there was some discussion about non-tender, direct negotiation to award power plant contracts. IIRC this was brought up by Yeo Bee Yin in one of her social media posts back when she was Minister of Energy, Science and Technology.
Waaaaaait, power plant isn't own by tnb?
I have checked again, and it's actually mix. TNB used to own all its own power plants, then starting in the 90s the govt started awarding power supply contracts to Independent Power Producers. Some familiar names are YTL Power, Malakoff.
It not sure how much of IPP's production share now, but it looks like large proportion of power comes from IPPs now.