Malaysia Has One Of The Lowest Domestic Electricity Prices In The World

We often complain whenever we see a spike in our electricity bills, but did you know that we're actually some of the lucky ones as we have one of the lowest domestic electricity prices in the world?

According to The Ministry of Energy, Green Technology and Water (KeTTHA), Malaysia ranks fourth after Sweden, China and Taiwan, which means that we don't have to pay as much tax for the electricity we use in our homes.

The current electricity tariff rate since 1 January 2018 is 38.53 sen per kilowatt jam (kWh) and this rate will remain through to 21 December 2020.

We won't be experiencing any electricity price surge until the end of 2020.

Malaysia's low domestic electricity tariff is probably due to the government's long term agreement with energy suppliers, as reported by the New Straits Times.

This agreement allows our country to make repayments over an extended period of time with low interest rates.

KeTTHA Secretary General Datuk Seri lr Dr Zaini Ujang reportedly said that several financial service providers have given Malaysia good credit ratings, which have attracted many foreign investors to tap into our energy sector.

Additionally, Malaysia has also been demonstrating a good track record in managing and utilising our energy resources for domestic usage. We've only acquired energy resources from other countries for construction purposes.

Nonetheless, it is still important for us to find ways to save energy and electricity as much as we can, so remember to switch off those lights if you're not in the room!