ELECTRICITY TARIFF HIKE

Shares of national power utility Tenaga Nasional jumped 3 per cent yesterday to RM8.45 a piece on the belief that the government would agree to an electricity tariff hike as early as tomorrow.

Three days ago, Tenaga chief executive Datuk Che Khalib Mohamad Noh hinted at the prospect by telling reporters that the “price of fuel is more expensive now than early this year”.

Tenaga, which is 70 per cent-owned by the government, can only raise, or drop, tariffs with government consent and it’s been lobbying Kuala Lumpur for a raise after it cut tariffs by 3.7 per cent in March on easing fuel prices. But global fuel prices have almost doubled since then. "Tariff hike illustrates the government’s desire to reduce the burden of rising subsidies in the power sector"
http://en.suarakeadilan.com/current-news/2009/07/12118