‘Electricity reform agency to be set up’

KUALA LUMPUR: The electricity industry is set to undergo a transformation through the implementation of the Malaysia Electricity Supply Industry (MESI) 2.0 reforms aimed at enhancing the domestic electricity supply industry.

Energy, Science, Technology, Climate Change and Environment Minister Yeo Bee Yin said the government would set up a special agency called MyPower Corp to roll out the initiative.

She said the agency, comprising 10 to 20 energy industry experts, would operate only for 36 months following the conclusion of MESI 2.0.

“The government will act as a driver, but the prime movers of this transformation are the local experts and professionals.

“Meetings and discussions will be held with stakeholders to assist the government in implementing this,” Yeo said at a press conference after the launch of the Conference of the Electric Power Supply Industry 2018 at the Kuala Lumpur Convention Centre here yesterday.

Present were Tenaga Nasional Bhd chairman Tan Sri Leo Moggie and president and chief executive officer Datuk Seri Azman Mohd.

The government will act as a driver, but the prime movers of this (electricity industry) transformation are the local experts and professionals. YEO BEE YIN Energy, science, technology, climate change and environment minister

“Through MESI 2.0, we aim to achieve three objectives — to increase industry efficiency, regulate industry structure and key processes, and empower consumers.

“Upon completion of the reforms, we expect the market structure to be more transparent and efficient, as well as have more costly tariffs based on market conditions,” Yeo said.