TNB Records Improved Electricity Demand Growth
- 4.5% electricity demand growth in Peninsular Malaysia, resulted in 5.3% revenue improvement
- Profit After Tax was recorded at RM5.58 billion, an improvement of 6.3%
Kuala Lumpur, 28th July 2016 – Tenaga Nasional Berhad (TNB) today announced that the Group revenue for the nine months of Financial Year 2016 (9MFY2016) was recorded at RM33.29 billion, registering an improvement of 5.6% compared to RM31.54 billion reported for the corresponding period last year. The improvement in revenue was primarily due to 4.5% electricity demand growth in Peninsular Malaysia, contributed mainly by domestic and commercial sectors at 11.5% and 6.4% respectively.
Corresponding to the demand growth, operating expenses for 9MFY2016 increased by 4.2% to RM26.8 billion from RM25.7 billion for 9MFY2015. As a result, Profit After Tax for the period improved by 6.3% to RM5.58 billion as compared to RM5.25 billion reported for the corresponding period last year.
TNB’s President and Chief Executive Officer, Datuk Seri Ir. Azman Mohd, commented: “This year, we recorded multiple peak demands with the latest being recorded at 17,788 MW on 20th April 2016. This reflected an improvement of 5.2% as compared to the peak demand of 16,901 MW recorded two years ago on 11th June 2014.
We have seen that electricity demand in Peninsular Malaysia continued its positive momentum in the third quarter of this financial year despite slower demand from the industrial sector. However with the changing weather pattern, we expect that demand will revert back to its normal trend and remain steady for the rest of this financial year, in tandem with the country’s economic growth.”
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