KUALA LUMPUR: Shares of TENAGA NASIONAL BHD [] fell in the afternoon session on Wednesday, May 25 in the absence of fresh positive news about a possible tariff hike for the national power company.
At 3.51pm, TNM was down 22 sen to RM6.27 with 7.44 million shares.
The FBM KLCI rose 2.24 points to 1,534.36. Turnover was 568.14 million shares valued at RM959.79 million. There were 258 gainers, 440 losers and 298 stocks unchanged.
Investors were disappointed over the lack of news about the government's decision whether to allow TNB to raise its tariffs.
Minister of Energy, Green TECHNOLOGY [] and Water, Datuk Peter Chin Fah Kui said on Monday the Cabinet was expected to decide on Wednesday, May 25 at its weekly meeting if there should be a tariff increase for TNB.
Last week, OSK Research said for TNB, there could be a small hike in electricity tariff as it needed a 1% hike to cover the Renewable Energy.
The research house said for renewable energy to be viable, the government needed to pass the proposed Renewable Energy Act (RE Act) that includes a feed-in tariff (FiT) scheme of 1% tariff hike.
'The RE Act is expected to be passed by mid-2011. The 1% tariff hike to cover the costs associated with the FiT scheme is expected to have a very minimal impact to electricity demand. FIT. So a 3-5% hike is not out of the question,' it said.
At 3.51pm, TNM was down 22 sen to RM6.27 with 7.44 million shares.
The FBM KLCI rose 2.24 points to 1,534.36. Turnover was 568.14 million shares valued at RM959.79 million. There were 258 gainers, 440 losers and 298 stocks unchanged.
Investors were disappointed over the lack of news about the government's decision whether to allow TNB to raise its tariffs.
Minister of Energy, Green TECHNOLOGY [] and Water, Datuk Peter Chin Fah Kui said on Monday the Cabinet was expected to decide on Wednesday, May 25 at its weekly meeting if there should be a tariff increase for TNB.
Last week, OSK Research said for TNB, there could be a small hike in electricity tariff as it needed a 1% hike to cover the Renewable Energy.
The research house said for renewable energy to be viable, the government needed to pass the proposed Renewable Energy Act (RE Act) that includes a feed-in tariff (FiT) scheme of 1% tariff hike.
'The RE Act is expected to be passed by mid-2011. The 1% tariff hike to cover the costs associated with the FiT scheme is expected to have a very minimal impact to electricity demand. FIT. So a 3-5% hike is not out of the question,' it said.
No comments:
Post a Comment