By OMAR RIDZUAN
ARE you ready for cheaper electricity?
That could be a reality one day under the government’s energy liberalisation plan
Energy, Science, Technology, Environment and Climate Change Minister Yeo Bee Yin announced last week that the sector will be opened up.
What does it mean?
What it means is that Tenaga Nasional Berhad no longer holds the monopoly to sell power to consumers.
Other companies could be allowed to sell and supply power to the people in the future.
Previously, we don’t have a choice but to buy electricity from Tenaga even if it is not efficient.
We also had to buy from Tenaga even though the firm overcharged some of the consumers due to its faulty digital meter.
The matter, however, has been resolved.
But now, when other power companies come in, consumers will have a wider choice to shop for the best power provider.
Malaysians can also save the environment by choosing power companies which are environment friendly.
As an example, the people can choose to buy power from company A which generate power from solar compared to company B which generates power from coal.
This concept is not new as it is widely practised in the West such as in the UK.
The liberalisation could also see electricity tariffs going down as the power companies compete with each other.
Naturally, electricity tariff will go down as power companies offer the best rates to customers.
The liberalisation of the power industry will in the end benefit consumers as all energy companies beef up their operations to give the best service to the people.