![]() Tenaga is believed to have put in a lower bid of around 22 sen per kWh, compared with 1MDB's bid of 24 sen per kWh. ![]() ![]() However, given Tenaga and 1MDB's size as well as access to cheap cost of funds, it is unlikely that the IPPs will get to build any of the new power plants that are being tendered out under a programme called Track 3A and Track 3B.įor instance, under Track 3A, only Tenaga and 1MDB have been shortlisted for the building and operating of a 1,000mw coal-fired plant, which will be constructed next to an existing plant. The EC is currently in the midst of selecting the winners that will build coal-fired power plants, which will see 3,000mw of electricity come into the system beyond 2018. "The EC does not want to commit to too many power plants and end up with Tenaga forking out a tidy sum as capacity payments to the independent power companies." "But the bottom line is that the rates must be lower than the benchmark set in the current bidding process of power plants and the concession terms have to be better," says one industry executive. Under the existing framework, the EC can consider proposals from the IPPs to build and supply power to the grid. WITH Tenaga Nasional Bhd and 1Malaysia Development Bhd (1MDB) dominating the power scene with their big balance sheets, independent power producers (IPPs) have turned their attention to submitting unsolicited proposals to the Energy Commission (EC) to supply electricity at competitive rates.
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