Shares of Tenaga Nasional Bhd. (TNB) hit a new record high during midday trading after announcing the proposed new electricity tariff for Peninsular Malaysia through the 4th Regulatory Period (RP4). RHB Investment Bank believes the increased capital expenditure approved will accelerate the growth of TNB's controlled assets, while the inclusion of non-scheduled expenditure in RP4 could further boost revenue. However, further details are awaited regarding the company's eligibility for the full allowed net return based on the approved budget. TNB announced a 14% increase in the base tariff for the three-year RP4 period from 2025 to 2027. Capital expenditure (Capex) is set at RM42.82 billion, comprising RM20.78 billion for base and RM16.3 billion for non-scheduled expenditure. Apex Securities believes the non-scheduled expenditure could include investments like battery energy storage systems, depending on the technology's commercial viability.
PETALING JAYA: Saham Tenaga Nasional Bhd. mencecah rekod tertinggi baharu pada sesi dagangan tengah hari selepas mengumumkan cadangan tarif elektrik baharu bagi Semenanjung Malaysia melalui Tempoh Kawal Selia 4 .
“Secara keseluruhan, kami positif dengan pengumuman RP4 berikutan perbelanjaan modal yang lebih tinggi. Perbelanjaan modal ditetapkan pada RM42.82 bilion, terdiri daripada asas RM20.78 bilion dan luar jangka RM16.3 bilion. Purata perbelanjaan modal yang diluluskan di bawah RP4 lebih dua kali ganda berbanding di bawah RP3 dan perbelanjaan mengurus yang dibenarkan sebanyak RM20.78 bilion meningkat 16 peratus daripada RP3.
Dalam pada itu, TA Securities berkata, syarikat penyelidikan secara umumnya positif pada RP4 berdasarkan butiran awal yang dikongsi oleh TNB memandangkan peningkatan dalam perbelanjaan modal yang dibenarkan RP4.
TNB Electricity Tariff RP4 Capital Expenditure Share Price
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