Following the price drop of oil and gas, there has been call to TNB to lower the electricity tariff to reflect the market rate. Just a few days ago, TNB said the government may review the tariff when it is due in July.
Much to our surprise, and to our welcome, government decided to reduce the tariff by 2.25 sen/kWh with effective from March 2015, for a period of 3 months.Those using 600kWh/mth can save up to RM13.50 per month. The paper also published the potential savings for different usage, as below.
The move, though welcome by people, does not bode well with shares investors. TNB's share price drop RM1.20 in total for 2 days. But this is a different story.
I hope the government will continue to monitor whole situation and make necessary adjustment to tariff so that it can benefits the rakyat. I also hope TNB to play its corporate social responsibility (CSR) since it is making profits year after year.
In fact, I think the tariff for lower income group should be made cheaper while those high usage group should be charged more. The capable should help the less capable. Spending RM10 is nothing for the rich but the poor need to think twice.
Although electricity tariff is reduced, I still urged consumers to practice electricity conservation. From environmental perspective, we do it for the earth and our future generation. Switching off unnecessary lighting and air-conds is the most basic things we can practice. Switch to energy saving electrical appliances is another step to do. Teach to our younger generation as I feel they took for granted all the conveniences.
From financial planning point of view, consumers should spend wisely. Financial freedom is not about the freedom to spend, but the freedom to not spend. If we cannot resist spending, we are in bondage. Freedom to not spend is to apply wisdom not to spend on unnecessary items, thus resisting instant gratification.
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