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Who are the Robber Barons of Malaysia
Written by Ismail Dahlan, Malaysia ChronicleRate this item
Electricity has just gone up by an average of 7.1% for household consumers. For business it is an average 8.3% hike. However if you use less than 300 kilowatts which would work out to a RM77 monthly bill, you will not be affected.
Which means 75% of household users will not get a higher electricity bill. If you fall into that category, and think this is good news, you would be very wrong. When costs go up for businesses, the cost of their products go up. You will be paying for the business tariff hike. All your essential supplies, and all non-essentials are going to cost more. Nobody is spared.
And the reason you are paying more for electricity has nothing to do with any global event, as the BN would like you to believe. The reason you are going to have less money in your pocket is the incompetence, inefficiency and corruption of the Barisan Nasional government.
There are two types of electricity markets in the world, regulated and deregulated ones. Regulated ones would have a single, usually government-owned entity which would be responsible for the four key areas in the electricity business; Generation, Transmission and Distribution and Retail. Naturally monopolies were inefficient. The idea behind deregulation is that having private companies focus on the Generation and Retail areas would increase efficiency and reduce the cost to the consumer.
Read only if you need to know more :
• Generation is the process of producing electricity from fuel like natural gas or coal. In Malaysia, natural gas is widely used and IPPs buy it at a subsidized rate from Petronas; subsidies amounting to RM19 billion in total.
• Transmission is the process of transmitting electricity from the generator to the sub-station near your house via the National Electricity Grid.
• Distribution is the process of transferring the electricity from the substation to your house.
• Retail is where they bill you for the electricity for your house. In some countries this is deregulated where you can buy electricity from different, competing, companies though it comes from the same source. In Malaysia, TNB is still responsible for it.
Tycoons behind the IPPs
Electricity deregulation really started in UK in the early 1990’s. It spread worldwide and Malaysia too deregulated, but only its Generation business. This was done by giving licenses to Independent Power Producers (IPPs). Which should have resulted in reduced electricity cost to the consumer.
But that’s not what happened. In Malaysia’s topsy turvy wonderland, deregulation increased the cost to the consumer! This was because Tenaga was forced to buy electricity from IPPs who charged more for the electricity than if Tenaga produced it itself!
It was the BN government that ‘negotiated’ such deals with the IPPs. Either they are criminally incompetent, awfully stupid or they are corrupt. You may take your pick. It may be a combination of all three.
So who are these IPPs? Genting Sanyen, YTL Power, Malakoff, SEV, Prai Power,Powertek, GB3, Tanjung Bin Power and Kapar Energy are among the two dozen or so IPPs in Malaysia. All of the above are owned by the Genting Lims, Francis Yeoh, Syed Mokhtar and Ananda Krishnan. The usual suspects, of course. The connected businessmen who get most of the big deals. Who will know how to take care of their political benefactors.
YTL Power’s profit for 2010 was more than RM1.6 billion on revenues of RM13 billion. Malakoff in 2009 had a profit of RM380 million on revenues of RM5.6 billion. Powertek had revenues of RM1.34 billion and a profit of RM450 million.
So Francis Yeoh makes RM1.6 billion and Ananda Krishnan makes RM450 million from his IPP while collecting subsidies from public money. It is essentially a transfer of funds from the people’s pockets to the IPP’s vaults, through TNB, aided and abetted by the BN.
When this economic joke of a system is about to come crashing under its own silly weight, the BN solves the problem by raising the electricity tariffs, making Malaysians pay for it.
Now here is a strange thing, Thai power producers do not get subsidies. They have to buy fuel at market prices. We know that petrol costs more in Thailand, which is why they are always trying to fill up their tanks in Malaysia. So does gas cost more in Thailand. Despite this higher cost of fuel, Thai power producers sell electricity at a lower price than Malaysian IPPs sell to TNB. Ask the BN, and they will tell you that there is clearly something wrong; with the Thais! Why aren’t they trying to grab as much public money as possible, as fast as possible like us; the BN no doubt wonders.
TNB is a GLC, declassify the contracts
Meanwhile, Malaysian’s own version of medieval German Robber Barons (who were known for extorting huge tolls from passing ships and travellers), get to keep their subsidies, and, their unnatural, undeserved profits. They are despicable fellows who prey on the helpless. Big business, controlled in Malaysia by a small number, are now become adversaries of the people. They extort unbearable tolls and they bankroll and prop up a regime that is beggaring the nation. No longer can they fake innocence and hide in the shadows.
TNB had a profit of RM4.1 billion on revenues of RM32 billion in 2010. This is not enough? They still need to raise the electricity tariffs? Why further burden a nation that is already reeling from rising prices. Che Khalib, their CEO, had a big smile on in today’s newspapers. He will get a bigger bonus this year. You will get a higher electricity bill and will pay more for everything else. You will suffer, Che Khalib and his bosses will celebrate. That’s life under the BN’s incompetent, corrupt thumb.
As what can only be considered a joke, TNB’s theme for their 2010 annual report was “Powering A Sustainable Future”! In it, they claim to be committed to ensuring transparency in all they do. In which case, they should immediately make public the IPP contracts. But they will not, because it is clearly a dirty secret. A secret so ugly perhaps, that it alone could cost BN the election. No transparency here, just false slogans. Peter Chin, under whose Ministry TNB is parked, claims that he cannot release the IPP contracts because it is between two private entities. But TNB is not a private entity, it is mostly government-owned. And the subsidies given to the IPPs are not private monies, they are public funds!
Another 5 years of the Barisan’s rule, and Malaysia will become an economic basket case. Where ruthless connected businessman live off a suffering citizenry while cosying up to the ruling elite. Where greed and self-serving politicians and policies are the order of the day.
If there is to be change, it had better be now. - Malaysia Chronicle
Wednesday, 01 June 2011 00:16
Malaysia, a most expensive nation in South East Asia
Written by J. D. Lovrenciear
Living costs have been always on an upward trend. No doubt about that. As wages increase, so do living costs – although wage increases are always far more slower and far in-between.
But there is a harsh reality that clearly defines that Malaysia may after all be the most expensive country to stay compared to the rest of its neighbours. This is particularly true in the last ten years.
For a nation of only 28 million, and given its oil wealth and palm oil lead; for a nation that thrived from its tin and rubber blessings; for a nation that was well sheltered from the ravages of weather and natural disasters; a country that enjoys natural maritime pathways much sought after by the East and the West – how could this nation become a nightmare for its own citizens who are today struggling to meet bills, keep kids in school, and put quality food on the table everyday?
For a long, long time the government – in this case the ruling political party, has always made decisions all in the name of caring for the future stability of its rakyat. Many decisions were made despite the reservations of the populace.
So we went on an overdrive mode building all kinds of superstructures and facades. We had the Twin Towers at immense cost because the lesson drummed into us was it is necessary to put the nation on the world map and to draw tourists by the droves so that Malaysians can benefit from the tourist-dollar.
We have many more super-structures because the argument dished out was that it is better to build now then later as it would be more expensive over time and that the savings is in the interest of the rakyat.
We built, built and built. We spent billions more promoting this and that ceaselessly. And the government has not stopped splashing even till this day. It is always in the name of proting and attracting development and opportunities so that the rakyat can savour the sweetness of wealth created.
And we made the rakyat even pay more through taxes, tolls and tariffs. If you protested, the law would slam shut on your face. If you did not support all the decisions made by the government you will be labelled anti-government and all opportunities will be sealed from you and you would be lucky if the ISA did not bundle you off into oblivion.
Korek sini, tutup sana; korek sana, tutup sini
Today, we all know that the cost of living in Malaysia is far more greater than in any of the neighbouring countries. They have the freedom of choice guaranteed by their democratic capitalism. But do Malaysians enjoy that option?
Either they pay the toll or get nowhere. Either they pay the tariff or live in darkness. Either they take the job and live with what is dished out or they are left with nothing.
Either they pay the monthly dues or end up holed up in some ashram. If they try to put up a hut somewhere the local authorities will descend like vultures. If they try to plant some vegetables and cash crop under some bridge or flyover, you bet just as the labour begins to yield some hope the authorities will make a clean swoop. So, again we lose out to the neighbouring countries.
You want a car, go get a Proton. If you do not like it, no problem, just pay through your nose for an imported or CKD model.
It is a pity is it not? When citizens in a neighbouring oil-rich nation are living a stress-free and easy life, Malaysians despite having so much oil can only look at the rising towers and superstructures and eat Maggie and Roti Canai.
Just take a quick count at the number of bankrupts in the country. Just take a look at how credit cards are becoming temporary solace only to be swallowed in a sleepless nightmare for even young executives today. Just look at the way housewives are doing their everyday marketing. Just count the number of fathers who eat less daily at work just to make sure the pay packet can stretch a little longer.
Just listen to the rakyat tell you that their paypacket disappears within the first week of drawing their salaries. Is it not true that the commonly shared joke among the rakyat today is: "Korek sini, tutup sana; korek sana, tutup sini".
But the powers that be will say, “tighten your belts rakyat”. But nobody asks why is the country suddenly so expensive to live in today. And everything from television to print, we will only hear such rosy pictures of fun and laughter; success and gains. Who will feature the tears and pains of the struggling rakyat?
Now with the rising tariffs and the looming revision of pump prices it is going to snowball further and the working rakyat can only groan. Or worst, make believe that they are doing okay. No wonder even the once loud-mouthed Consumer body has been silenced into a stuffed kitten.
What do we make out of all these really? Cry? Scream? Or just shut up and die a muted death? Sigh ...
J. D. Lovrenciear is a reader of Malaysia Chronicle
Lopsided power hike inefficient, says DAPMonday, May 30 @ 22:35:59 CDT
KUALA LUMPUR, May 31 — The decision to raise electricity tariffs without reviewing “lopsided” deals with highly inefficient independent power producers (IPPs) is like “righting a wrong with another wrong”, Tony Pua has said.The DAP publicity chief said raising rates without restructuring purchasing power agreements (PPAs) with IPPs would only worsen inefficiency and place a greater burden on industrial and commercial consumers, who will bear the brunt of the hike.
He pointed out these large-scale users will see an average increase of 8.4 per cent in their power bill, which would not only worsen rising inflation but “deal a bigger blow” to export industries already hurt by the strong ringgit.
“The fact that the government chooses to punish our consumers and industries, without laying a finger on the IPPs, only serves to prove that the Najib administration has no political will to carry out the necessary reforms to our economy,” Pua (picture) said in a statement today.
The Petaling Jaya MP pointed out that despite having to contend with natural gas prices that were more than double that of Malaysia’s, commercial electricity tariffs in Thailand were only 0.4 per cent higher than Malaysia’s RM37.85 kWh rate.
He said the latest tariff hike meant that commercial power rates here would be “significantly higher” than Malaysia’s northern neighbour when they should be 16.9 per cent cheaper, based on existing subsidy rates.
“And the key reason for that is the unfair PPAs which result in ridiculously high levels of electricity reserve margins,” he said, adding that Malaysia’s 52.6 per cent reserve margin in 2010 was double that of Thailand (25.4 per cent) and Java, Indonesia (26 per cent).
“The net effect is TNB (Tenaga Nasional Bhd) is forced to purchase electricity which it does not need from the IPPs, resulting in inflated costs for TNB and correspondingly inflated profits for the IPPs.”
The Najib administration announced yesterday it will raise electricity prices by an average of 7.1 per cent from tomorrow.
The price charged by Petronas to power companies for the natural gas will rise to RM13.70 per mmBtu from RM10.70, and go up by RM3 every month until December 2015, after which market rates apply.
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