The Energy, Green Technology and Water Ministry (KeTTHA) is finalising its energy efficiency masterplan and hopes to roll it out by mid-year, said secretary-general Datuk Loo Took Gee.
“We’re reviewing the numbers to ensure the target rates are realistic to further streamline the green movement,” she told a press conference at the Eco-B Workshop organised by the Malaysia Green Building Confederation.
She said going forward, the Government had stated that rationalisation of the energy subsidies was a must to ensure efficient use as well as being priced correctly to avoid wastage.
“Fuel subsidies are heavily dependent on the oil price. At its peak in 2008, it escalated to RM14.31 per million metric British thermal unit (mmBTU), while subsidies amounted to RM24.95bil.
“Currently, the oil price is at a lower level of RM13.70 per mmBTU, while government subsidies amount to between RM15bil and RM17bil,” she added.
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