Malaysia's power utility has too much power and not enough money
Tenaga's electricity rate hikes went into effect yesterday - but perhaps it needs to get its own house in order before it charges customers more to flip on the lightswitch.
Starting June 1 Tenaga Nasional increased its electricity rates by an average of 12% due to the rising price of fuel. But MalaysiaÆs national electricity company, which is flush with power, is still going to need to come up with more cash in the near future.
The rate hike is expected to increase its takings by about M$1.5 billion $413 million but that wonÆt be enough to cover the cost of generating electricity going forward thanks to its contracts with...
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