Electricity Rates Up, Inflation Up


Today, Malaysians will have to pay more for electricity but the Govenment says that 75% of households are not affected and inflation is negligible.

The truth of the matter is that inflation will NOT be negligible and the rates up will affect all Malaysians indirectly. Businesses will have to pay and the costs will be passed down to us!

This article in Malaysia Chronicle (read here) is very enlightening and everyone concerned about inflation and corruption should read.

The excerpt as follows:

Electricity has just gone up by an average of 7.1% for household consumers. For business it is an average 8.3% hike. However if you use less than 300 kilowatts which would work out to a RM77 monthly bill, you will not be affected.

Which means 75% of household users will not get a higher electricity bill. If you fall into that category, and think this is good news, you would be very wrong. When costs go up for businesses, the cost of their products go up. You will be paying for the business tariff hike. All your essential supplies, and all non-essentials are going to cost more. Nobody is spared.

And the reason you are paying more for electricity has nothing to do with any global event, as the BN would like you to believe. The reason you are going to have less money in your pocket is the incompetence, inefficiency and corruption of the Barisan Nasional government.

…..

TNB had a profit of RM4.1 billion on revenues of RM32 billion in 2010. This is not enough? They still need to raise the electricity tariffs? Why further burden a nation that is already reeling from rising prices. Che Khalib, their CEO, had a big smile on in today’s newspapers. He will get a bigger bonus this year. You will get a higher electricity bill and will pay more for everything else. You will suffer, Che Khalib and his bosses will celebrate. That’s life under the BN’s incompetent, corrupt thumb.

As what can only be considered a joke, TNB’s theme for their 2010 annual report was “Powering A Sustainable Future”! In it, they claim to be committed to ensuring transparency in all they do. In which case, they should immediately make public the IPP contracts. But they will not, because it is clearly a dirty secret. A secret so ugly perhaps, that it alone could cost BN the election. No transparency here, just false slogans. Peter Chin, under whose Ministry TNB is parked, claims that he cannot release the IPP contracts because it is between two private entities. But TNB is not a private entity, it is mostly government-owned. And the subsidies given to the IPPs are not private monies, they are public funds!

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