Thursday, December 15, 2011

Tenaga to rebalance fuel cost mix, focus more on coal, says Che Khalib

KUALA LUMPUR (Dec 15): TENAGA NASIONAL BHD [] is looking to rebalance its fuel cost mix of between coal and gas to 50:50 in 2016 from 40:60 now to reduce its dependency on gas, said its president and CEO Datuk Seri Che Khalib Mohamad Noh.

"The coal-fired plant in Tanjung Bin, Johor will be expanded to provide an additional 1,000 MW to meet the higher demand," he told reporters after the company's AGM here on Thursday.

Che Khalib said TNB hoped to receive payment of up to RM2 billion on the additional cost it incur for burning pricey oil and distillates from the government and Petroliam Nasional as soon as possible.

"We are working on it, and hopefully when we receive it, it will reverse our lost to profit, or else, we will be registering similar results we recorded for the past few quarters," he added.

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