Reuter: 14 Dec 2009 22:25:39 PST * Tenaga sees 3 pct rise in power demand in FY2010-CEO
* Commercial demand saw big jump in Oct-Dec -CEO
* Tariffs revision hinges on government's call on gas price
KUALA LUMPUR, Dec 15 - Malaysia's largest power firm Tenaga Nasional expects power demand in the country to rise 3 percent in the financial year 2010 to August as the economy bounces back from a recession, the company's chief executive said.
The Southeast Asian country's electricity demand for the three months to December was already up by more than 3 percent from a year ago, Che Khalib Mohamad told a news conference after the company's annual shareholder meeting on Tuesday.
Power demand from commercial and domestic customers grew substantially during the three months, with demand from commercial customers, such as shopping complexes, offices and hotels, growing by almost 6 percent, he said.
"Based on our current estimates, power demand will grow 3 percent" in fiscal year 2010, said Che Khalib.
Power demand shrank 2.6 percent in the fiscal year 2009 to August, the company said.
The economy is expected to expand by 2 to 3 percent next year after shrinking by 3 percent this year, according to government forecasts.
The energy minister last week said it was studying a request by Tenaga to raise electricity tariffs. The cabinet in July rejected a proposal for a 4.9 percent price hike.
The government has said it will review the price of natural gas, a key fuel source for Tenaga, as well as the power tariffs Tenaga charges its customers every six months under a new fuel cost regime.
* Commercial demand saw big jump in Oct-Dec -CEO
* Tariffs revision hinges on government's call on gas price
KUALA LUMPUR, Dec 15 - Malaysia's largest power firm Tenaga Nasional expects power demand in the country to rise 3 percent in the financial year 2010 to August as the economy bounces back from a recession, the company's chief executive said.
The Southeast Asian country's electricity demand for the three months to December was already up by more than 3 percent from a year ago, Che Khalib Mohamad told a news conference after the company's annual shareholder meeting on Tuesday.
Power demand from commercial and domestic customers grew substantially during the three months, with demand from commercial customers, such as shopping complexes, offices and hotels, growing by almost 6 percent, he said.
"Based on our current estimates, power demand will grow 3 percent" in fiscal year 2010, said Che Khalib.
Power demand shrank 2.6 percent in the fiscal year 2009 to August, the company said.
The economy is expected to expand by 2 to 3 percent next year after shrinking by 3 percent this year, according to government forecasts.
The energy minister last week said it was studying a request by Tenaga to raise electricity tariffs. The cabinet in July rejected a proposal for a 4.9 percent price hike.
The government has said it will review the price of natural gas, a key fuel source for Tenaga, as well as the power tariffs Tenaga charges its customers every six months under a new fuel cost regime.
State oil firm Petronas supplies natural gas to Tenaga at a subsidised price. Natural gas accounts for about 60 percent of Tenaga's total fuel costs.
Shares in Tenaga fell 0.9 percent by the midday break. The wider market was down 0.1 percent. The stock has gained 36 percent in 2009, lagging the benchmark stock index's 44 percent rise. 
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