Govt to reactivate MyPower for MESI 2.0 initiative

KUALA LUMPUR: The government will reactivate special-purpose agency MyPower Corp for three years as part of the Malaysia Energy Supply Industry (MESI) 2.0 initiative.

MyPower stands for Malaysia Programme Office for Power Electricity Reform, an independent company limited by guarantee to be set up under the Energy, Technology, Science, Climate Change and Environment Ministry to design and drive implementation of this reform programme.

Minister Yeo Bee Yin said MESI 2.0 aimed to accomplish three agendas – to increase industry efficiency; future-proof the industry structure, regulations and key processes; as well as empower consumers, democratise and decentralise the electricity supply industry.

“We will also come out with a series of reforms, such as MESI 3.0 and so on, and continuously have meetings to determine what would be the agenda for each reform,” Yeo said.

She was speaking at a press conference after officiating at the Conference of the Electric Power Supply Industry 2018.

Yeo said the government is confident that Malaysia’s electricity supply industry transformation programme in areas such as future generation – which includes green energy and electricity energy efficiency and grid for the future – would enhance customer experience as well as propel the country forward.

She said MyPower, with 12 to 20 employees, is tasked with engaging with industry players as well as stakeholders for the indus- try reforms, and the company is expected to close once it completed its mission.

“This is an agency that will be closed in three years, so they have 36 months of mandate to drive, implement and close shop,” she said.

“We believe that renewable energy is in the present, and although we have not reached great parity in electricity storage together with the technology, we believe that in a very short time we will reach great parity.

“That means early adoption of renewable energy will help us and the industry to be more competitive.

“It will also help us to be a first mover in the region, and hopefully our companies will be empowered to also do business outside Malaysia,” Yeo said. — Bernama